The major European indices are closing the day with solid gains. The stocks are reacting to sharply lower oil prices and perhaps hopes for a peaceful end to the Russian/Ukraine war.
The German Dax is up 2.2%. The UK FTSE 100 is the worst performer at +0.6%.
The final numbers are showing:
- German DAX, +2.2%
- France's CAC, +1.8%
- UK's FTSE 100 +0.6%
- Spain's Ibex, +1.1%
- Italy's FTSE MIB +1.65%
European yields have the UK yields up 10.7 basis points ahead of the interest rate decision on Thursday where the Bank of England is expected to raise rates by 25 basis points to 0.75%. The 10 year yield is up 10.7 basis points to 1.599%. Other yields are trading marginally lower on the day but off their lows for the day as well. The German 10 year is down 1.4 basis points at 0.361%. That is up from its low of 0.265%.
European 10 year yields are mostly lower. Exception is UK