London — A bounce in tech shares carried European equities higher on Thursday after similar gains on Wall Street and Asia, and boosted by a small pullback in the dollar from a 17-month high.
“We continue to treat every sell-off as the buy-the-dip opportunity,” said Marija Veitmane, global markets strategist at State Street Global Markets. Company earnings were still robust and that borrowing costs were still very low, she said. “The inflation debate, whether is it temporary or not, is still there,” said Dirk Schmacher, head of European macro research at Natixis. He also flagged the renewed lockdown in Austria and the fast rising case numbers in parts of Germany.
In Asia, the tech recovery that had kicked off on the Nasdaq on Wednesday, lifted Japan’s Nikkei 0.8% and saw Hong Kong’s tech index snap six sessions of losses. Alibaba was among the main winners. The dollar is trading near its highest in almost five years versus the Japanese currency at 115.3 yen, and consolidating a near 18-month high against the euro, which was a fraction higher at $1.1222.
These expectations have pushed US Treasury yields higher, albeit inconsistently, with benchmark 10-year notes last yielding 1.6427% after rising as high as 1.6930% on Wednesday.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.