European stocks turn negative as bond yields resume upside

The European stocks opened on a firmer footing on Wednesday, taking the positive lead from their Asian peers and renewed optimism as Wall Street moves towards record highs.

However, the gains were quickly eroded and the European indices fell in the red zone as global bond yields, particularly the treasury yields, and the greenback resumed its post-Trump win upward rally.

Moreover, weaker commodities’ prices also weigh on the sentiment around the resource and energy sector stocks, exerting bearish pressure on the region’s indices.

Meanwhile, Germany's DAX 30 index trades -0.21% lower around 10,710 levels, while the UK's FTSE 100 index declines -0.18% to 6,780. Among the other indices, the French CAC 40 index drops -0.20% to 4,530, while the pan-European Euro Stoxx 50 index loses -0.24% to trade near 3,050 mark.

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