European Stocks Rebound on Friday Amid Bond Market Concerns
European stocks have recovered slightly after a sharp selloff on Thursday, driven by concerns over global government bond yields reaching multi-year highs. The pan-European STOXX 600 index rose by 0.4% to 629.18 points by 0720 GMT.
The European Central Bank's monetary policy tightening plans are expected to be influenced by the euro zone flash inflation data, due later in the day. The US nonfarm payrolls report is also being closely watched, with forecasts indicating a gain of 90,000 jobs in September.
European banking stocks have been hit hard this week, with Germany's Commerzbank falling 2% after RBC downgraded its stock to 'sector perform' from 'outperform'. Puma declined by 1.2% following Nike's projection of a steep drop in full-year revenue due to weak demand in China and increased competition.