European Shares Rally As Bond Yields Retreat

(RTTNews) - European stocks rallied on Tuesday and bond yields retreated after Federal Reserve officials indicated that the series of interest rate rises in the U.S. may be at an end.

Closer home, ECB policymaker Francois Villeroy de Galhau said in an interview to Francois Villeroy de Galhau that inflation should still land at the target level of around 2 percent by the end of 2025 despite the violence that has flared up in Israel since Saturday.

Meanwhile, on a light day on the economic front, data showed British grocery inflation fell for a seventh month in a row to the lowest rate in more than a year heading into October.

The pan European STOXXX 600 was up 1.5 percent at 450.24 after declining 0.3 percent on Monday.

The German DAX jumped 1.6 percent, while France's CAC 40 and the U.K.'s FTSE 100 both added around 1.4 percent.

Eutelsat Group shares soared over 7 percent in Paris. The satellite communications company and Marlink, a hybrid networks provider, have signed a multi-year multi-million agreement for Maritime Connectivity over Europe, the Middle East, and Africa or EMEA.

Euroapi plunged 57 percent after the pharmaceutical company cut its 2023 sales guidance.

Elis SA surged 4.3 percent after Brazil-based asset manager BWGI said it would acquire a 6 percent stake in the French cleaning services company.

British polling company YouGov soared 20 percent after reporting a sharp rise in pretax profit for fiscal 2023 on improved revenue.

Electricals retailer Currys climbed nearly 3 percent after announcing it has received several non-binding offers from potential buyers for its business in Greece and Cyprus, Kotsovolos.

Croda International was up 2.9 percent after several brokerages raised their target price on the stock.

Kontron AG, a maker of computer hardware and other technology products, jumped 6.4 percent after it has secured two design wins valued around 100 million euros from undisclosed parties.

Rheinmetall AG, an aerospace and defense company, added nearly 2 percent after it announced a further order from German Bundeswehr to supply over 150,000 rounds of artillery ammunition under a framework agreement.