US stock index futures rose suggesting a recovery in S&P 500 index, as investors analysed the effect of rising bond yields on equities. Standard & Poors 500 index which expires this month gained 0.5%. The index has been on a two day loss row. Dow Jones Industrial also rose by 0.5%.
In Europe, UK benchmark index FTSE 100 is up 0.25%, the French benchmark index rose 0.35% so far, while Germans DAX remains almost unchanged. Industrial output unexpectedly increased in April, signaling the euro-area economy is beginning to recover from a record-long recession. U.K. jobless claims fell more than economists forecast in May and a wider measure of unemployment also declined, data from the Office for National Statistics showed.
In corporate news, Yum! Brands Inc. retreated 1.5% as the company owning Pizza Hut and KFC fast food chains reported 19% decrease in sales in China market. Rambus Inc, company which brings invention to market, surged 9.1% after setting patent litigation with Hynix Inc – a South Korean semi-conductor supplier. First Solar, the largest US solar manufacturer plunged 6.8% in Europe. The company reported yesterday after closing of markets that it offers $8.5 million shares to raise money for general corporate purposes. The offer represents 10% of current stocks.
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