11:49 AM EDT, 08/26/2026 (MT Newswires) -- The European stock markets closed higher in Wednesday trading as oil prices were flat amid possible renewed talks involving Iran and Oman concerning reopening the Strait of Hormuz.

The Stoxx Europe rose 0.2%, Germany's DAX gained 0.4%, the FTSE 100 increased 0.1%, France's CAC advanced 0.4%, and the Swiss Market Index was up 0.3%.

In corporate news, HSBC has bought a minimum of $3 billion of Indian government bonds since last month, using a pool of funds attracted under a special diaspora dollar deposit program, Bloomberg News reported Tuesday, citing people familiar with the developments.

Over the last couple of months, the UK lender has purchased bonds around the five-year maturity bracket, as it looks for ways to deploy the proceeds it has attracted under the Reserve Bank of India's foreign currency non-resident program, the unnamed sources told the news outlet.

HSBC didn't immediately respond to MT Newswires' request for comment.

Shares of HSBC gained 0.5% in London.

BHP's Port Hedland unions have submitted a counterproposal for a new wage agreement ahead of talks with the company scheduled for Sept. 8, Reuters reported Tuesday.

According to the report, the counterproposal follows workers' rejection of BHP's previous offer, which the unions said would have maintained significant pay inequalities among workers.

BHP said it continues to make progress toward an agreement addressing key workforce concerns, with a meeting with Australia's Fair Work Commission scheduled for Sept. 15, Reuters added.

BHP didn't immediately respond to MT Newswires' requests for comment.

Shares of the mining company was down 1% in London.

Ericsson, Nokia, Kongsberg, Patria, and Saab have joined the defense track within Nordic Compass, an industry roundtable meant to address defense needs in the north of Europe, Nordic Compass said Wednesday.

The initiative comes amid increased defense budgets that present a "significant opportunity" in the sector, the organization said.

Shares of Ericsson dropped 2.2% in Stockholm, while shares of Nokia lost 1% in Helsinki.

BP-backed Aker BP disclosed Wednesday that it has started production from the Skarv Satellite Project, which comprises three offshore oil fields in the Norwegian Sea.

The fields, which have been put into production one year ahead of schedule, represent 120 million barrels of oil equivalent of recoverable resources, and extend the life of extant company infrastructure around Skarv.

Shares of BP fell 1.3% in London.

Equinor said Tuesday it started supplying additional natural gas to the Troll A platform from the second stage of the Troll Phase 3 subsea project on Aug. 22, ahead of its year-end start date.

The 12.3 billion Norwegian kroner ($1.32 billion) project accelerates the extraction of 55 billion standard cubic meters of gas from the Troll West reservoir, the company said.

Shares of the Norwegian petroleum refiner declined 0.6% in Oslo.

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