Rising bond yields, Middle East conflict weigh on European stocks

Oct 23 - European shares edged lower on Monday as rising government bond yields and concerns over the Israel-Hamas war kept investors on edge, while Italy's FTSE MIB index was among top gainers across the regional markets.While European Union leaders are set to call for a"humanitarian pause" in the Israel-Hamas war so aid could reach them, Israel continued its bombardment of the besieged enclave.

Adding to the pressure, the yield on the benchmark 10-year U.S. Treasury note rose above 5.0% on Monday before paring gains, ahead of key gross domestic product and inflation data from the country later this week. Investors will brace for earnings from major U.S. technology firms such as Microsoft and Alphabet and the European Central Bank's interest rate decision, due later this week.

Miners shed 1.1% as prices of most base metals took a hit from geopolitical tensions, while rate-sensitive real estate stocks hit their lowest level since 2012, before paring declines. The sector ended 0.6% down.

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