European stocks extend gains on support from oil, utilities

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Miners weigh on European stocks after best day in four months

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 8, 2021. REUTERS/Staff

The continent’s stock markets have come under pressure as a jump in bond yields on the back of quick vaccine rollouts and a massive U.S. fiscal package has fanned worries about a potential rise in inflation.“European market is much less tech heavy than the S&P 500, much less growth dominated, so higher bond yields are not such a negative,” said Nick Nelson, head of European equity strategy at UBS.

Miners fell 1% as Dalian iron ore futures tumbled by the 10% daily limit on anti-pollution restrictions in China’s top steelmaking city of Tangshan, while metal prices were also hit by a firm dollar. [IRONORE/] [MET/L]

 

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