European stocks rise after Christmas break, bank stocks up on surge in government bond yields

From Nasdaq: 2024-12-27 04:29:26

European stocks rose on Friday after a two-day Christmas break, with the STOXX 600 up 0.3%. German DAX and France’s CAC 40 also edged higher, while the U.K.’s FTSE 100 dipped slightly. Bank stocks like Commerzbank and BNP Paribas rose 1-2% due to a surge in regional government bond yields. Germany’s 10-year bond yield hit 2.346%, widening the yield spread with French bonds. Delivery Hero SE shares fell 5.2% after Taiwan rejected Uber’s plan to acquire its Foodpanda business. Energy giants BP and Shell rose on expectations of an economic recovery in China. Miners like Anglo American and Glencore fell as iron ore prices dropped below $100 a ton.



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