European markets close higher, UK gilts volatile as pressure mounts on PM Starmer
LONDON — European stocks rose on Wednesday, bouncing back from losses in the previous session, while U.K. gilt yields fell back after Prime Minister Keir Starmer defied calls to qu
LONDON — European stocks rose on Wednesday, bouncing back from losses in the previous session, while U.K. gilt yields fell back after Prime Minister Keir Starmer defied calls to quit office.
Key points
- The pan-European Stoxx 600 index closed 0.7% higher, with most sectors and major bourses in positive territory.
- government bonds , known as gilts, saw double-digit gains on Tuesday as investors feared a deterioration of fiscal discipline under new leadership.
- Yields fell across durations on Wednesday morning as nerves calmed, but narrowed on reports Starmer's leadership rival Wes Streeting is preparing to resign as health secretary.
- in London, the yield on the 2-year U.K.
- gilt was down 6 basis points, while those on longer-term bonds fell between 3 and 4 basis points.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CNBC.