In European markets on the 14th, the German 10-year bond yield rose by more than 4 basis points to 3.5544%, its highest level in over 17 years. Inflation concerns driven by higher crude oil prices and rising bond yields weighed on the market, with the STOXX Europe 600 falling 0.49% to 635.99, Germany's DAX down 0.50% to 25,440.81, and France's CAC 40 down 0.76% to 8,117.78. Meanwhile, London's FTSE 100 extended its gains, rising 0.44% to 10,697.57, as pharmaceutical and consumer staples stocks were bought. GSK rose 4.7% after announcing positive trial results for two lung cancer treatments, while data analytics firm GlobalData fell 18.7% after its full-year revenue forecast fell short of market expectations. Expectations are growing in the market that major central banks will raise interest rates within the year, with the ECB expected to implement at least one more rate hike this year, and markets fully pricing in two 25 basis point hikes by February 2027.
GSK plcGSK rose 4.7% after announcing positive trial results for two lung cancer treatments.
German 10-year bond yield rose over 4bp to 3.5544%, its highest in over 17 years, on inflation concerns and expectations of central bank rate hikes.
