European stocks edged higher this morning after a sharp selloff driven by the bond market rout, while investors looked ahead to euro zone inflation data and US jobs report for fresh clues on monetary policy outlook.
London's FTSE index had gained 21 points (0.2%) to stand at 10,449 by 9am, while the Paris CAC was up 26 points (0.3%) to trade at 7,862 and the Frankfurt DAX advanced 80 points (0.3%) to reach 25,020.
Dublin's ISEQ index was also higher this morning, adding 46 points (0.3%) to hit 14,089. Shares in Ryanair rose 1.7% to stand at €23.37, while Kingspan was up 1% to trade at €100.70. Shares in Glanbia gained 0.9% to reach €18.83 and Kerry Group was up 0.6% to hit €84.65
Earlier in Asian trade, Tokyo's Nikkei index dropped 647 points (0.9%) to close at 68,309, retreating from a six-week high as investors locked in gains and turned cautious over the outlook for interest rates, inflation, and geopolitical risks.
US stocks recovered from early losses to close slightly higher on Wall Street last night, with the S&P 500 bouncing from a two-week low as a global bond selloff reversed course after sending US Treasury yields to multi-decade highs.
The Dow Jones edged 20 points (0.04%) higher to close at 50,927, while the S&P 500 gained 15 points (0.2%) to finish at 7,666 and the Nasdaq Composite inched up 10 points (0.04%) to end at 26,871.
