European shares moved higher on Thursday as bond yields eased and markets turned their attention to interest-rate expectations, energy prices and upcoming US employment data.
The STOXX 600 rose 0.2% to 646.96 by 0810 GMT after three consecutive sessions of losses. Germany’s DAX gained 0.1% and Spain’s IBEX advanced 0.5%.
The move followed a sharp sell-off in global bonds and equities. Rising oil prices linked to the Iran war had increased inflation concerns and pushed government bond yields higher. That pressure eased on Thursday, helping stabilise European equities.
Oil prices fell during the session but remained above $90 a barrel. Europe’s dependence on imported energy keeps oil prices central to the region’s inflation outlook and to expectations for monetary policy. Eurozone government bond yields also pulled back from recent multi-year highs.
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