European shares ticked higher on Tuesday, as investors returned to tech stocks after a seven-day sell-off fuelled by concerns about rising rates, while upbeat earnings from companies like HelloFresh and Delivery Hero also aided the mood.
The pan-European Stoxx 600 advanced 0.9 per cent, as of 0826 GMT, after a late-session recovery on Wall Street supported Asian equities. European tech stocks advanced 2.1 per cent after tumbling 3.6 per cent to a near three-month low in the previous session. Germany’s Delivery Hero SE jumped 6.6 per cent after saying it expects its food delivery business to break even during the second half of 2022 as demand has soared since the pandemic began.
HelloFresh leapt 4.9 per cent after the German meal-kit delivery firm announced a share buyback programme of up to €250 million.
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Stocks fall further, US yield climb unnerves investorsWorld stocks stumbled again today, while the 10-year Treasury yield hit a two-year high as bets that the US Federal Reserve could raise interest rates as soon as March led investors to pare risky assets.
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