MTS Help Center

European shares close 2% higher with U.S. stimulus, rising bond yields in focus; DAX hits record high

European stocks closed higher Monday, as global investors monitored progress toward a U.S. Covid relief bill against the backdrop of rising bond yields.

The pan-European Stoxx 600 closed up 2.2%, with banks adding 3.7% to lead gains as almost all sectors and major indexes advanced. Germany’s DAX index rose 3.3% and hit a new intraday high, according to Reuters.

Wall Street also saw a rally Monday after hedge fund manager David Tepper said the recent rapid rise in rates is set to stabilize and it’s hard to be bearish on stocks.

Reference: CNBC