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European stocks gain amid weekly decline
European stocks rose slightly today, but the market is heading towards its worst weekly performance since April, amid rising bond yields and fears of monetary tightening ahead of upcoming US inflation data. The Stoxx 600 index increased by 0.3%, reaching 637.60 points, after closing at its lowest level in two months following the European Central Bank's decision to raise interest rates and its hinting at concerns over rising inflation driven by energy prices. Meanwhile, oil prices remained above $100 for the third consecutive day, increasing expectations for further rate hikes and boosting global bond yields, as investors await US consumer price index data. Among individual stocks, Italian semiconductor testing company Technoprob jumped 4.7% after TSMC reported strong revenues in August.
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