European equities extended gains on Wednesday, with Germany’s DAX 40 rising 0.7% to cross 26,400 for a second straight advance led by banks, industrials and technology, the STOXX 50 up 0.6% and the STOXX 600 0.3%, as investors awaited Nvidia’s earnings and tracked Strait of Hormuz developments. Resumed Iran-Oman talks on managing the waterway lifted hopes the chokepoint could reopen, prompting another decline in oil prices that pushed bond yields lower and eased inflation concerns. Investors also digested US data showing the PCE price index rose 0.2% in July, above expectations, leaving inflation sticky. ECB policymakers were reported ready to raise rates in September but reluctant to signal further tightening thereafter, while SAP fell about 3% after Intuit’s disappointing forecast and a UBS downgrade to neutral.