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European shares rebound, supported by technology gains and optimism about corporate earnings
A wave of buying in technology shares and an optimistic outlook for the fourth-quarter corporate earnings season pushed the European stock market to recovery on Tuesday, after it suffered sharp losses in the past few sessions led by concerns about rising interest rates.
The pan-European Stoxx 600 index ended the trading session up 0.8%, recovering from its worst day in a month and a half. Technology stocks were the top gainers, up 1.9%, after tumbling about 8% over the past seven sessions.
The rise in bond yields around the world, due to expectations of an increase in US and European interest rates this year, has sparked significant losses in shares of technology companies, with investors worried about the future of the sector's profits.
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