European Stocks Notch Best Gain of Year as Yields Pressure Eases
Travel stocks, banks and autos led the advance in Europe.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
European equities recorded their biggest gain since November 2022, boosted by an easing in the relentless pressure from higher bond yields and optimism over Chinese stimulus measures.
The Stoxx Europe 600 Index rose 2% by the close in its best day since Nov. 10, with 96% of the constituents posting gains. Appetite for stocks was also lifted by comments from Federal Reserve officials, who hinted Monday that further interest rate rises may not be needed. US 10-year Treasury yields slid the most since March.