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European Shares Rise as Tech Stocks Hit Nearly One-Month High

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European equities gained on Tuesday with interest rate-sensitive technology stocks leading the gains as a surge in US bond yields paused.

The Stoxx 600 Index was 0.7% higher by the close. Almost all sectors advanced, with the Stoxx 600 Technology Index up 2.0%, the most in almost a month. Real estate shares also rose by a similar amount.

“This bit-by-bit correction over the last two weeks, accompanied by poor volumes, will continue until bond yields send signals toward another direction,” said Guillermo Hernandez Sampere, head of trading at asset manager MPPM. “The attractive fundamentals of many equities have not yet attracted investors to increase their positions.”

 

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