Rising bond yields dragged European stocks lower on Friday, although major bourses were set for weekly gains as stimulus and vaccination programmes spurred hopes of a solid economic recovery. House builders were also of interest to investors with Cairn Homes trading 1.9 per cent higher at €1.09 and Glenveagh up 1.7 per cent at €0.90. Bank stocks, including Barclays, HSBC, Lloyds Banking Group and Standard Chartered, gained 0.8-3.6 per cent, tracking higher US Treasury yields. EUROPEThe pan-European Stoxx 600 index fell 0.3 per cent after a four-session winning streak drove it to pre-pandemic highs a day earlier. BMW fell 1.3 per cent after saying its operating profit for 2020 fell due to the Covid-19 pandemic.

Source: The Irish Times March 12, 2021 18:51 UTC