European Equities Retreat as Bond Yields Hit Multi-Year Peaks

Major European indices declined as rising bond yields pressured equity valuations across the continent. The UK market underperformed its peers amid updated economic forecasts and a softening pound.

• UKX fell 0.61% to a four-week low
• DAX and CAC declined by 0.25% and 0.56% respectively
• GBP traded at $1.35 amid economic forecast updates
• Italian consumer confidence index showed a decline
• Bond yields reached multi-year highs, weighing on equities