European shares hover near one-month low as bond yields surge

  • European shares stayed near a one-month low as rising yields pressured markets.
  • Brent crude exceeded $95 a barrel, reaching a six-week high.
  • Lottomatica fell 6.3% after announcing its takeover of Spain's Cirsa.

European shares remained near a one-month low on Wednesday as rising bond yields and renewed U.S.-Iran tensions heightened concerns about energy-driven inflation. The pan-European STOXX 600 was flat at 647.87 points by 0714 GMT, while Germany's DAX fell 0.2%. Brent crude rose above $95 a barrel to a six-week high. German 10-year bond yields reached their highest level since April 2011, and LSEG-compiled data showed investors assigning nearly a 40% chance to the European Central Bank's deposit rate reaching 3% by March 2027, up from 25% the previous week. Lottomatica fell 6.3% and was temporarily halted after announcing its takeover of Spain's Cirsa. Media stocks led sector declines, while Nokia Oyj gained nearly 2% after STOXX said it would rejoin the Euro STOXX 50.

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