Latest News
UK News
Click Here to read UK News
Forex News
Click Here to read Forex News
Market News
Click Here to read Market News
UK News
-
Homebuilders, miners push British stocks higher
Published at 01/03/2021 at 09:43 -
European stocks rebound as bond markets stabilise, UK outperforms
Published at 01/03/2021 at 09:39 -
European stocks rebound as bond markets stabilise
Published at 01/03/2021 at 08:25 -
Recovery bets lift British stocks as miners, oil stocks jump
Published at 01/03/2021 at 08:18 -
UK Stocks-Factors to watch on March 1
Published at 01/03/2021 at 06:08 -
European shares drop as high yields spark profit taking in tech, resources
Published at 26/02/2021 at 17:24 -
FTSE 100 marks weakest day in four months as bond rout deepens
Published at 26/02/2021 at 17:10 -
FTSE 100 falls as bond rout hits global equities
Published at 26/02/2021 at 08:18 -
European shares drop more than 1% as bond sell-off intensifies
Published at 26/02/2021 at 08:12 -
UK Stocks-Factors to watch on Feb 26
Published at 26/02/2021 at 07:54
Forex News
-
FOREX-Dollar clings to three-weeks high as yields steady
Published at 01/03/2021 at 12:32 -
FOREX-Risk currencies, bitcoin recover as yields steady
Published at 01/03/2021 at 09:23 -
FOREX-Risk currencies recover from Friday carnage as bonds regain composure
Published at 01/03/2021 at 06:03 -
FOREX-Risk currencies recover from Friday carnage, dollar consolidates
Published at 01/03/2021 at 01:05 -
FOREX-Dollar gains on higher yields, risky currencies weaken
Published at 26/02/2021 at 20:29 -
FOREX-Dollar gains on higher yields, safe haven bid, risky currencies weaken
Published at 26/02/2021 at 15:23 -
FOREX-Bond selloff boosts dollar, risk currencies knocked lower
Published at 26/02/2021 at 12:29 -
FOREX-Dollar strengthens as U.S. yields spike, pound falls to one-week low
Published at 26/02/2021 at 09:52 -
CORRECTED-FOREX-Dollar firms after U.S. yield spike; yen continues march lower
Published at 26/02/2021 at 08:53 -
CORRECTED-FOREX-Dollar firms after U.S. yield spike, hits six-month high versus yen
Published at 26/02/2021 at 08:52
Market News
-
Oil jumps on vaccine optimism, U.S. stimulus
Published at 01/03/2021 at 13:08 -
PRECIOUS-Gold rebounds on U.S. stimulus, softer yields
Published at 01/03/2021 at 12:43 -
PRECIOUS-Gold rebounds on U.S. stimulus, softer yields
Published at 01/03/2021 at 10:50 -
PRECIOUS-Gold rises over 1% on weaker dollar, U.S. stimulus cheer
Published at 01/03/2021 at 08:06 -
PRECIOUS-Gold prices edge higher on softer dollar
Published at 01/03/2021 at 01:35 -
Oil prices climb after progress on huge U.S. stimulus bill
Published at 01/03/2021 at 01:04 -
Oil drops on dollar strength and OPEC+ supply expectations
Published at 26/02/2021 at 23:05 -
PRECIOUS-Gold slumps as rising U.S. yields, dollar dull lustre
Published at 26/02/2021 at 18:56 -
PRECIOUS-Gold set for second monthly dip as high U.S. yields erode appeal
Published at 26/02/2021 at 13:41 -
PRECIOUS-Gold hits 8-month trough as U.S. Treasury yields rally
Published at 26/02/2021 at 07:40
UPDATE 2-European shares end lower on tech losses as bond yields weigh
Published at
23/02/2021 at 17:04
* Tech stocks lead declines for a second day
* Total gains on stake sale of wind and solar farms
* High treasury yields in focus
* Bank stocks gain
(Updates to market close)
By Shashank Nayar and Ambar Warrick
Feb 23 (Reuters) - European shares ended lower on Tuesday as high sovereign bond yields pressured heavyweight sectors such as technology, while a batch of mixed corporate earnings cast doubt over the pace of a post-COVID-19 recovery.
The benchmark euro zone stock index was down 0.4%, with tech stocks leading declines for a second straight session as they retreated further from 20-year highs.
A recent spike in sovereign bond yields also weighed on stocks, as higher returns in fixed income offered investors a safer alternative to relatively riskier equities.
Technology stocks in particular have also been viewed as expensive by investors after their outperformance through the COVID-19 pandemic.
Still, bank stocks benefited from the rise in borrowing rates, with Spain's bank-heavy index adding 1.7%.
"Investors are cautiously optimistic about the rise in U.S. bond yields and what that tells us about inflation trajectories, while German shares seem to be weighing on the wider European market as tech stocks weaken further with the DAX being a tech-focussed index," said Michael Hewson, an analyst at CMC Markets.
Core European government bond yields rose despite indications of discomfort from European Central Bank President Christine Lagarde with the recent surge in yields.
But U.S. yields retreated slightly after U.S. Federal Reserve Chair Jerome Powell downplayed concerns over inflationary pressures and reiterated continued monetary support.
European stocks have rallied sharply off pandemic-driven lows hit last year, but have been unable to reach pre-COVID highs on doubts over a euro zone economic recovery due to fresh lockdowns in major countries.
Among individual movers, HSBC Holdings dropped 0.8% after its annual profits fell sharply due to the pandemic, while it unveiled a revised strategy focused mainly on wealth management in Asia.
Swiss packaging firm SIG Combibloc Group bottomed out the STOXX 600 after its annual core earnings missed estimates.
German health care group Fresenius slipped after it narrowed its 2021 sales growth forecast and said it would launch a cost-cutting program, while cement-maker HeidelbergCement dropped 2.3% even after preliminary results showed core profit was up 6% last year.
French energy group Total gained more than 2% after it agreed to sell stakes in some wind and solar farms to Credit Agricole Assurances and Banque des Territoires.
(Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V, Sriraj Kalluvila and Jonathan Oatis)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))