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Pressure emerged on European stocks on Friday, but more specifically on Nasdaq-100 futures, as Treasury yields resumed their ascent.
The Stoxx Europe 600 SXXP index,
fell 0.5% to 423.13 after a four-game winning streak. The German DAX DAX,
down 0.3%, while the French CAC 40 PX1,
and the FTSE 100 UKX indices,
were flat. The euro EURUSD,
and GBPUSD pound,
fell against the dollar DXY,
which reinforced at all levels.
A familiar scenario emerged for investors, with the Nasdaq-100 NQ00 futures contracts,
decrease of more than 1% in the yield of the 10-year US Treasury TMUBMUSD10Y,
rose 6 basis points to 1.58%, a day after falling below 1.5% for the first time in a week. Dow YM00 Futures,
dived and S&P 500 ES00 futures,
fell 0.5%.
European and US stocks climbed Thursday after President Joe Biden signed a $ 1.9 trillion stimulus bill, and the European Central Bank said it would speed up its bond buying plan then that it continued to fight against the effects of the pandemic on economies.
Read: ECB just hit back against rising bond yields, catching traders off guard
While the ECB’s stance boosted the region’s bond gains on Thursday, those assets came under pressure again on Friday. The yield on German 10-year government bonds TMBMKDE-10Y,
rose 2 basis points to 0.308%. The yield of the golden TMBMKGB-10Y at 10 years,
rose 4 basis points to 0.781%. Yields move in the opposite direction to prices.
Data showed the UK economy shrank 2.9% in January, with weakness due to the service sector amid lockdowns and as new Brexit trade deals hit exports, the Office said on Friday. for National Statistics.
Among the moving stocks, a technological weakness was evident in Europe, with shares of ASML Holding ASML,
ASML,
and STMicroelectronics STM,
STM,
each down by at least 1%.
Burberry BRBY,
Shares jumped 7% after the luxury goods group forecast 2021 revenue and adjusted operating income to exceed expectations.
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