European Equities Advance 0.7% as Bond Yields Inch Higher

STOXX 600 Gains Ground

European equities moved higher on Monday, with the Stoxx Europe 600 rising 0.70% during Monday’s trading hours. Among individual movers, Banca Generali surged 5.27%, while Mycronic advanced 2.96%. Meanwhile, Wihlborgs Fastigheter declined 1.16%. The FTSE 100 in London posted a 0.3% gain, while France’s CAC 40 climbed 0.86%.

Germany’s DAX Continues Rebound, Adds 0.71%

Another gainer of note was Germany’s DAX index. Although the pace of the index’s upward momentum appeared somewhat less vigorous compared to previous sessions, the DAX still managed to extend its rebound and surge 0.71% on Monday.

Bond Yields Edge Higher

Government bond yields pushed higher on both sides of the Atlantic. Germany’s 10-year Bund yield increased by 3 basis points, reaching 2.502%. This marked an increase from the previous yield rate of 2.473%. Similarly, the yield on the 10-year US Treasury note gained 3 basis points to 4.268%.

Mixed Results Across Global Markets

Asian equity markets presented a mixed picture on Monday. Japan’s Nikkei 225 registered a 0.4% gain, and the KOSPI index closed 0.10% higher. Meanwhile, Hong Kong’s Hang Seng Index slipped by a negligible 0.04%, while the Shanghai Composite Index in China slipped by 0.20%. As for the US, while pre-market futures suggested major Wall Street indices were about to suffer losses, the opening bell saw the Dow and the S&P 500 climb under 1%. The Nasdaq Nasdaq 100 suffered losses of 0.17% during early trading hours, however.