Most European indices closed higher despite climbing sovereign bond yields, with Italy and Spain leading gains while the FTSE 100 declined.
European equities finished mostly higher, brushing off a rise in sovereign bond yields. The FTSE MIB and IBEX 35 led gains, up 0.44% and 0.62% respectively, while the FTSE 100 fell 0.19%. The CAC 40 and DAX posted modest advances of 0.35% and 0.06%.
Benchmark 10-year yields climbed across the region, with Germany’s yield rising 4.3 bps to 3.148% and France’s to 3.942%. The move mirrored broader global trends following stronger-than-expected U.S. labor data, which pressured Treasuries and U.S. equities.
Oil prices edged higher amid geopolitical tensions, as Iran reviewed a proposal to tighten control over the Strait of Hormuz, potentially restricting passage for vessels linked to the U.S. and allies. The plan remains under review and has not been implemented.