{"id":11544,"date":"2021-07-07T09:56:15","date_gmt":"2021-07-07T09:56:15","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/07\/european-shares-rebound-as-bond-yields-ease\/"},"modified":"2021-07-07T09:56:15","modified_gmt":"2021-07-07T09:56:15","slug":"european-shares-rebound-as-bond-yields-ease","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/07\/european-shares-rebound-as-bond-yields-ease\/","title":{"rendered":"European Shares Rebound As Bond Yields Ease"},"content":{"rendered":"
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European stocks rebounded on Wednesday, as yields resumed their slide and oil prices stabilized after the previous session’s wild ride.<\/p>\n

Investors await the release of the minutes of the Federal Reserve meeting later today, which could reveal more hawkish ideas for interest rates.<\/p>\n

The pan European Stoxx 600 rose 0.6 percent to 458.91 after declining half a percent on Tuesday. The German DAX climbed 0.9 percent, France’s CAC 40 index edged up 0.4 percent and the U.K.’s FTSE 100 was up 0.7 percent. <\/p>\n

French state-controlled power group EDF climbed 1.1 percent after upgrading its EBITDA target for 2021.<\/p>\n

German software company SAP soared 3.5 percent after a double upgrade to “buy” from Bank of America.<\/p>\n

Oil major Royal Dutch Shell rose over 2 percent in London. The company said it would boost returns to shareholders via share buybacks or dividends earlier than expected.<\/p>\n

BP Plc gained 1 percent as oil recouped some of the previous session’s losses.<\/p>\n

Miners Anglo American, Antofagasta and Glencore were up 2-3 percent.<\/p>\n

JD Wetherspoon shares fell over 1 percent. The company reported that its like-for-like sales from 17 May to 4 July, when pubs were fully open, were down 14.6 percent.<\/p>\n

Dufry shares jumped 3.2 percent as Italy’s Autogrill denied rumours of a potential tie-up with the Swiss duty-free retailer. Shares of the latter rose over 1 percent. <\/p>\n

In economic releases, German industrial production fell 0.3 percent month-on-month in May, the same pace of decline as seen in April, data from Destatis revealed. Economists had forecast output to grow 0.5 percent. <\/p>\n

On a yearly basis, industrial output growth moderated to 17.3 percent from 27.6 percent a month ago.<\/p>\n

U.K. house prices dropped for the first time in five months in June as the government phases out stamp duty holiday, data from Lloyds Bank subsidiary Halifax and IHS Markit showed.<\/p>\n

House prices decreased 0.5 percent on a monthly basis in June, reversing a 1.2 percent rise in May. <\/p>\n<\/p>\n<\/div>\n