12:24 PM EDT, 03/10/2026 (MT Newswires) -- The European stock markets surged in Tuesday trading as investors were assuaged by the Trump administration's expectations of a swift end to the Middle East conflict.

The Stoxx Europe advanced 2.1%, Germany's DAX climbed 2.6%, the FTSE 100 increased 1.8%, France's CAC gained 2.1%, and the Swiss Market Index was up 0.8%.

Bank stocks rallied as Deutsche and Commerzbank rose 3.9% each on the DAX. In London, Barclays was up 5%, followed by Lloyds Banking and Standard Chartered, which gained 4.1% and 3.7% respectively. UBS was up nearly 3% higher in Zurich, while BNP Paribas and Credit Agricole were up 4.1% and 3.6% respectively in Paris.

Mining stocks rebounded from Monday's slump as Fresnillo and Anglo American surged 8% and 6.3% respectively in London, followed by Antofagasta and Glencore, which climbed 6.1% and 3.4% respectively. ArcelorMittal was nearly 7% higher in Paris, while Heidelberg Materials rose 3.2% in Frankfurt, and Boliden advanced 6.3% in Stockholm.

And in corporate news, Novo Nordisk said Tuesday it received a warning letter from the US Food and Drug Administration on March 5 related to a Post-marketing Adverse Drug Experience inspection conducted in early 2025 at its Plainsboro, New Jersey site.

The FDA said in the letter that the company failed "to develop written procedures for the surveillance, receipt, evaluation, and reporting" of post-marketing adverse drug experiences, or ADEs, to the agency as required under the Code of Federal Regulations.

Shares of the Danish pharmaceutical company lost 3% in Copenhagen.

Stellantis is using technologies from automotive suppliers for its latest hybrid SUVs, CNBC reported Tuesday, citing unnamed sources from each company.

The automaker's Jeep Cherokee hybrid SUV for North America has a two-motor electric continuously variable hybrid transmission from Blue Nexus, a company backed by Toyota Motor, while upcoming extended range electric vehicles will use Bosch technologies, according to the report.

A Bosch spokesperson told MT Newswires in an email that the company "does not comment" on client relations. Stellantis and Toyota did not immediately respond to MT Newswires' requests for comment, while Blue Nexus could not be reached.

Shares of Stellantis rose 1.6% in Paris.

BBVA is close to selling its Garanti unit in Romania to Raiffeisen Bank International in a deal valued at about 550 million euros ($640 million), Bloomberg reported, citing unnamed people familiar with the matter.

Raiffeisen has offered roughly 1.2 times the unit's book value based on last year's balance sheet data, the sources told the publication.

BBVA didn't immediately respond to a request for comment from MT Newswires.

Shares of BBVA advanced 2.4% in Madrid.

Rio Tinto is facing pressure from Mongolia to renegotiate the commercial conditions of its Oyu Tolgoi copper project in the country, the Financial Times reported Tuesday, citing video footage and Erdenes Mongol Group Chief Executive Davaadalai Batsuuri.

Prime Minister Gombojavyn Zandanshatar warned the company's executives Monday that the terms of the current 17-year-old deal were "unfair," the publication reported, citing video footage it has seen.

A Rio Tinto spokesperson told MT Newswires that the company is engaged in active negotiations with the government, adding that its goal is "working together to achieve Oyu Tolgoi's full potential for the benefit of all partners."

Shares of the mining company gained 2.8% in London.

BioNTech's stock plunged 22% on the Frankfurt exchange after it reported a Q4 adjusted loss Tuesday of 0.33 euro ($0.38) per diluted share, swinging from earnings of 1.79 euros a year earlier. Analysts polled by FactSet expected a loss of 0.16 euro.

Revenue for the quarter ended Dec. 31 was 907.4 million euros, compared with 1.19 billion euros a year earlier. Analysts surveyed by FactSet expected 768.3 million euros.

For 2026, the company said it expects revenue of between 2 billion euros and 2.30 billion euros. Analysts polled by FactSet expect 2.75 billion euros.

http://www.mtnewswires.com
Copyright © 2026 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.