European stock market open: Stocks rally as bond yields ease after Fed hike

European stocks opened higher as easing long-end bond yields and falling oil prices helped offset concerns from the Fed’s hawkish rate hike. At the start of the session, Eurostoxx rose 0.7%, Germany’s DAX climbed 0.8%, France’s CAC 40 added 0.5%, the UK’s FTSE gained 0.9%, Spain’s IBEX advanced 0.7%, and Italy’s FTSE MIB rose 0.7%. The Fed raised rates by 25 bps to 3.75%–4.00% and kept a hawkish message, but 10-year Treasury yields stayed near the 5% level rather than spiking. Lower oil prices—Brent down nearly 2% near $104 and WTI down more than 1% below $101—supported rate- and energy-sensitive sectors.