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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10-yr Treasury yield passes 5%, stocks at seven-month lowsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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