Sept 3 (Reuters) – European stocks ticked higher on Thursday after three straight sessions of losses as a global bond selloff eased, with investors turning their focus to upcoming U.S. economic data for clues on the Federal Reserve’s next policy moves.
The pan-European STOXX 600 was up 1% to 646.15 by 0710 GMT, after hitting a one-month low in the prior session. Regional indexes were mixed. Germany’s DAX was up 0.1%, Spain’s index was up 0.3%, while France’s CAC 40 dipped 0.1%.
The recent escalation of the Iran war pushed oil prices higher and amplified concerns about persistent inflation, swelling government debt and tighter monetary policy, triggering a global bond and stocks selloff.
Oil prices eased but remained above $90 a barrel, while euro zone bonds slid from recent peaks. [O/R][GVD/EUR]
Among individual movers, Deutsche Telekom AG shares gained 1.7% after reports said Elliott built a stake in the firm.
Soitec jumped 10% after the French chip-materials maker raised its Q2 and full-year outlook, citing accelerating demand for wafers used in AI data-centre optical links.
Friday’s U.S. non-farm payrolls report will be parsed for fresh clues on the Federal Reserve’s policy path after Chair Kevin Warsh’s hawkish comments last week prompted traders to increase bets on further rate hikes.
(Reporting by Sudeshna Ghoshal and Medha Singh in Bengaluru; Editing by Nivedita Bhattacharjee)
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