Europe Markets: European tech stocks and Nasdaq 100 futures climb on bond yield easing as ECB meeting awaits

European tech stocks and Nasdaq 100 futures climb on bond yield easing as ECB meeting awaits

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European stocks traded higher Thursday ahead of a European Central Bank meeting, as investors celebrated an easing in bond yields.

Up six of the last eight sessions, the Stoxx Europe 600 SXXP, +0.32% edged up 0.3%.

Bond yields TMUBMUSD10Y, 1.493% globally fell after U.S. core consumer prices saw a muted rise in February, taking air out of the fears of inflation that had recently worried traders. ECB President Christine Lagarde to further explain the central bank’s worry that rising bond yields could interfere with monetary policy, at a news conference following the policy decision.

“While we do not expect the central bank to announce new measures, ECB President Christine Lagarde will strike a dovish tone, emphasising the flexibility embedded in its pandemic QE program to front-load asset purchases as needed,” said economists at research service TS Lombard.U.S. stock futures ES00, +0.74% were stronger, particularly the tech-heavy Nasdaq 100 NQ00, +1.78%, which closed lower on Wednesday.

In Europe, tech stocks including microchip equipment maker ASML ASML, +2.45%, technology investor Prosus PRX, +2.58% and microchip maker Infineon Technologies IFX, +3.33% advanced.

Engine maker Rolls-Royce RR, +1.50% rose 3%. The struggling company, which reported an underlying £4 billion loss in 2020, says it expects to be free cash flow positive in the second half of the year.

Credit: MarketWatch

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