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The benchmark DAX stock index jumped more than 3%, while the mid-cap index, the MDAX, soared almost 5%, on track for its biggest daily gain in years.
Heidelberg Materials, a cement maker, rallied 15% in Frankfurt. Bilfinger, an engineering company, jumped 14%, and forklift maker Kion rose 19%.
Aerospace and defense stocks also rose. Airbus gained 2% in France, while Rheinmetall was up 5% in Germany. European defense stocks have risen sharply as investors anticipate an increase in military spending.
The euro surged more than 1%, rising toward $1.077.
Bond yields, which rise as prices fall, leapt as investors braced for a flood of debt issuance.
The German 10-year government bond yield rose more than 0.25 percentage point to about 2.75%, on pace to settle at the highest level since late 2023.
