European shares slip as rising oil and bond yields weigh; Trump-Xi talks eyed
SPY•The STOXX 600 closed 0.6% lower as oil prices rose and euro zone bond yields stayed near multi-year highs. Energy shares gained 1.1%, while technology stocks fell 1.6%.
1. Markets close lower
European shares fell on Thursday as rising oil prices and elevated bond yields weighed on risk appetite. The STOXX 600 ended 0.6% lower, with most regional markets also in negative territory. Brent crude held above $100 per barrel, and Germany’s 10-year government bond yield was steady at 3.611%, just below a 17-year high reached last week.
2. Sector moves
European energy shares rose 1.1%, leading STOXX 600 sectors. Technology shares fell 1.6%, and industrial goods declined 1.4%. Investors were also watching for progress at a Washington summit between U.S. President Donald Trump and Chinese President Xi Jinping; U.S. Treasury Secretary Scott Bessent said the countries agreed to extend their trade truce to January 10.
3. Company shares mixed
Vistry fell 3% after lowering its annual profit expectations amid a strategic overhaul. H&M shares declined 2% despite the retailer reporting a bigger-than-expected rise in June-August operating profit. Shelly Group gained 4% after Schneider said it intended to launch a €1.2 billion takeover bid.
