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Weaker pound, retail stocks boosts FTSE 100; Mid-caps end best day in two-weeks;
Published at 22/04/2021 at 17:35 -
Solid earnings boost European stocks as ECB stands pat
Published at 22/04/2021 at 17:22 -
FTSE 100 rises on miners, industrials boost; Rentokil Initial slumps
Published at 22/04/2021 at 08:22 -
European shares extend gains on upbeat Nestle, Volvo earnings
Published at 22/04/2021 at 08:17 -
UK Stocks-Factors to watch on April 22
Published at 22/04/2021 at 07:52 -
UK Stocks-Factors to watch on April 22
Published at 22/04/2021 at 06:17 -
FTSE 100 ends higher on AstraZeneca, oil stock boost; Just Eat Takeaway slumps
Published at 21/04/2021 at 17:29 -
European shares rebound on strong earnings, M&A speculation boosts Hugo Boss
Published at 21/04/2021 at 17:17 -
FTSE 100 rises on boost from BP, Shell; Just Eat Takeaway slumps
Published at 21/04/2021 at 08:23 -
European stocks bounce back as ASML outlook lifts tech sector
Published at 21/04/2021 at 08:20
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FOREX-U.S. dollar perks up after ECB policy talk cools euro
Published at 22/04/2021 at 20:53 -
FOREX-Euro and U.S. dollar waffle as markets weigh ECB policy talk
Published at 22/04/2021 at 15:52 -
FOREX-Euro inches higher ahead of ECB meeting, dollar languishes
Published at 22/04/2021 at 12:09 -
FOREX-Euro tiptoes higher ahead of ECB meeting
Published at 22/04/2021 at 09:12 -
FOREX-Dollar near multi-week lows as yield support fades, euro eyes ECB
Published at 22/04/2021 at 06:17 -
FOREX-Dollar loses bond yield support, euro looks to ECB for inspiration
Published at 22/04/2021 at 03:24 -
FOREX-Dollar stalls as yield gains slow, focus shifts to ECB
Published at 22/04/2021 at 02:03 -
FOREX-U.S. dollar losses bounce after Canada tips toward higher rates
Published at 21/04/2021 at 21:00 -
FOREX-U.S. dollar losses bounce after Canada tips toward higher rates
Published at 21/04/2021 at 17:51 -
FOREX-Dollar firm as COVID-19 resurgence dampens risk appetite
Published at 21/04/2021 at 15:25
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Oil steady as Libya output decline offsets risks to Asian demand
Published at 22/04/2021 at 20:47 -
PRECIOUS-Gold slips 1% as stronger U.S. dollar weighs
Published at 22/04/2021 at 19:15 -
PRECIOUS-Gold slips from 2-month peak, palladium holds near record high
Published at 22/04/2021 at 13:20 -
PRECIOUS-Gold nears $1,800 level as U.S. dollar, yields lose ground
Published at 22/04/2021 at 08:25 -
Oil falls 3rd day on U.S. stock build, surging COVID-19 cases
Published at 22/04/2021 at 03:04 -
PRECIOUS-Gold hovers near eight-week high on easing U.S. dollar, yields
Published at 22/04/2021 at 02:37 -
Oil prices drop 2% on U.S. crude build, COVID-19 surge in India
Published at 21/04/2021 at 22:33 -
PRECIOUS-Supply woes push palladium to record high, gold up more than 1%
Published at 21/04/2021 at 18:54 -
PRECIOUS-Gold gains as easing U.S. Treasury yields boost appeal
Published at 21/04/2021 at 14:04 -
PRECIOUS-Gold gains as softer U.S. dollar, yields lift appeal
Published at 21/04/2021 at 08:11
UPDATE 2-European shares end lower as miners and tech are pressured by firmer yields
* UK miners trade ex-dividend
* Lufthansa slips after record 2020 loss
* Tech stocks slide amid semiconductor shortage, Wall St losses
* Unibail-Rodamco-Westfield tops STOXX 600
(Updates to market close)
By Sruthi Shankar and Ambar Warrick
March 4 (Reuters) - European stocks closed lower on Thursday as a renewed rise in U.S. bond yields and expectations of a jump in inflation hit risk appetite, with heavyweight miners and technology stocks leading losses.
The pan-European STOXX 600 index fell 0.4%, with miners dropping the most among the European sectors. UK-listed heavyweights Rio Tinto and BHP Group shed 7.7% and 5.8%, respectively, as they traded ex-dividend.
Technology stocks , the driver of the market's rebound from pandemic-driven lows, fell 3.3% as a global semiconductor shortage weighed on the sector, while a rise in bond yields also spurred more scrutiny of high stock valuations.
Dutch firm ASML Holding NV dropped 6.1% despite news that it had extended a deal to sell chip manufacturing equipment to China's largest chipmaker SMIC .
"While one can understand why investors are concerned about valuations in the U.S., particularly around the tech sector ... the same can't be said in Europe, where valuations are much lower," Michael Hewson, chief market analyst at CMC Markets wrote in a note.
Unlike U.S. stocks, the STOXX 600 has yet to reach pre-pandemic highs, as a fresh round of lockdowns and sluggish economic growth cut short an early bounceback from lows hit last March.
Market participants were also waiting for comments from Federal Reserve Chairman Jerome Powell regarding the recent jump in borrowing costs.
European Central Bank policymaker Klaas Knot said the recent rise in euro zone borrowing costs may reflect improved growth and inflation prospects.
"A steepening curve is to some extent a sign that monetary policy is bearing fruit," analysts at Rabobank wrote in a note. "However, (the ECB) are also wary that too rapid an increase could stop the fragile recovery in its track."
Euro zone bond yields are significantly lower than those in the United States, with many investors welcoming the recent rise in yields as signs of economic reflation.
Sefensive sectors such as utilities , food & beverage
and real estate all advanced.
Among individual movers, Unibail-Rodamco-Westfield - Europe's biggest retail property owner - topped the STOXX 600 after French tycoon Xavier Niel raised his stake in the firm.
German broadcaster Prosiebensat.1 Media fell 7.3% after forecasting that revenue and profits would grow in single digits this year, after a strong showing in the fourth quarter.
German airline Lufthansa slipped 3% as it posted record losses for 2020 and trimmed its 2021 capacity plans as COVID-19 disruption drags on.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu and Sriraj Kalluvila)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))