The yield on U.K. 10-year Gilts<\/a>, the benchmark for British government debt, was last seen more than 4 basis points higher at 5.2660%, while the longer-dated 30-year Gilt<\/a> yield was flat at 5.8537%.<\/p>\n In Germany, 10-year Bund<\/a> yields \u2014 seen as a barometer for euro zone borrowing \u2014 were up more than 3 basis points in early trade Wednesday at 3.3759%. The 30-year Bund<\/a> yield was also up more than 3 basis points at 3.8468%, nearing their highest level since 1998.<\/p>\n Yields on Japan’s benchmark 10-year government bonds<\/a> remain above 3%.<\/p>\n \u2014Hugh Leask<\/p>\n Nokia set to rejoin Stoxx 50 \u2014 with Volkswagen dropping out<\/p>\n Nokia signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, March 11, 2025. <\/p>\n Michael Nagle | Bloomberg | Getty Images<\/p>\n Nokia<\/a> is set to rejoin the Stoxx 50<\/a> later this month, with Volkswagen<\/a> likely to lose its place in Europe’s blue chip index.<\/p>\n Shares in the Finnish telecoms company hit an 18-year high in June, after doubling on the year. <\/p>\n Stock Chart IconStock chart icon Nokia.<\/p>\n VW, meanwhile, has slumped 30% year-to-date as the German auto giant grapples with fierce competition from China and a major restructuring. It comes as the carmaker unveiled plans to end production at four plants in Germany between 2031 and 2034.<\/p>\n \u2014 Hugh Leask<\/p>\n European markets set to start Wednesday’s session in the red<\/p>\n Visitors shelter from the rain with umbrellas on the Parvis des Droits de l’Homme on Esplanade du Tocadero across from the Eiffel Tower, as remnants of hurricane Kirk cause heavy rainfall over Paris, on October 9, 2024.<\/p>\n Ludovic Marin | Afp | Getty Images<\/p>\n Stoxx 50<\/a> futures were 0.51% lower ahead of Wednesday’s opening bell, with all of the continent’s main bourses seen in negative territory, as global energy prices<\/a> continued to rise following fresh U.S. strikes<\/a> on Iran.<\/p>\n The French CAC 40<\/a> was down 0.29% in premarket trading, while in the U.K. the FTSE 100<\/a> is seen opening 0.45% lower. The Italian FTSE MIB<\/a> was expected to open down 0.51%, and Germany’s DAX<\/a> is set to start the day 0.58% lower.<\/p>\n \u2014Hugh Leask<\/p>\n Oil rises following tit-for-tat strikes by the U.S. and Iran <\/p>\n Oil rose Wednesday, as Mideast tensions continue to escalate after the U.S. carried out its latest round of attacks on Iran, while Tehran reportedly struck back at U.S. allies. <\/p>\n Futures for international benchmark Brent crude<\/a> for November delivery advanced 0.92% at $95.52 a barrel, paring earlier gains. U.S.\u00a0West Texas Intermediate\u00a0futures<\/a>\u00a0for October rose 0.60% to $90.76 per barrel.<\/p>\n “The longer the war with Iran goes on,\u00a0oil\u00a0prices will continue to stay elevated and volatile,” said Edward Rosenberg, head of ETFs at Strategy Shares. “Sanctions, stalled negotiations, and mixed signals on whether Iran wants the war to end are swinging prices day to day, not just holding them high.”<\/p>\n \u2014Justina Lee <\/p>\n Japanese green tea giant Ito En surges 8%, defying a broad market sell-off<\/p>\n Shares of Japanese beverage maker Ito En<\/a> surged more than 8% Wednesday, following its fiscal first-quarter results<\/a>, bucking a broader drop in the country’s stocks.<\/p>\n The maker of Oi Ocha green tea on Tuesday reported operating profit of 10.2 billion yen ($63.7 million) for the three months from May through July, up 22% from a year earlier. Revenue rose 3.3% to 135.18 billion yen over the same period.<\/p>\n Operating profit came in well above Citi’s forecast of 7.7 billion yen. The bank had expected profit to decline on the back of higher raw material and tea leaf costs, as well as expenses related to the company’s vending machine business.<\/p>\n \u2014Jenny Lee <\/p>\n Australia posts second-quarter growth of 2.1%, beating expectations<\/p>\n Australia’s economic growth beat expectations in the second quarter, expanding 2.1% year on year, data released Wednesday showed.<\/p>\n Economists polled by Reuters had estimated growth at 1.8%, while the economy had expanded by 2.5% in the prior quarter.<\/p>\n On a quarter-on-quarter basis, GDP rose 0.4%, also marginally surpassing expectations of 0.3%. The slight growth was driven by private demand and mining exports.\u00a0<\/p>\n The Australian Bureau of Statistics said in its statement that households continued to behave cautiously, with spending remaining subdued and rising just 0.4%. Households reduced fuel consumption due to elevated prices owed to the Middle East conflict, and cut domestic and international travel.<\/p>\n \u2014Lim Hui Jie <\/p>\n Mainland China and Hong Kong benchmark indexes open lower<\/p>\n Mainland China and Hong Kong indexes opened lower as Asian markets saw a broad decline. <\/p>\n Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0was down 1.09%, while mainland China’s CSI 300 dropped nearly 1%. <\/p>\n The declines in Hang Seng were led by basic materials and industrials sectors, down 3.74% and 3.19%, respectively. <\/p>\n \u2014Justina Lee <\/p>\n Asia-Pacific markets open lower, tracking Wall Street losses <\/p>\n Asia-Pacific markets traded lower early Wednesday, amid concerns over elevated oil prices and higher bond yields and escalating Middle East tensions. <\/p>\n Japan’s\u00a0Nikkei 225<\/a> declined 1.60% while the Topix dropped 1.44%.<\/p>\n The Kospi<\/a> fell 2.87% at open, while the small-cap Kosdaq declined 2.51%. <\/p>\n Australia’s benchmark S&P\/ASX 200<\/a> was 1.09% lower.<\/p>\n \u2014Justina Lee<\/p>\n Asia-Pacific markets set to open lower as Mideast tensions, higher bond yields dent sentiment<\/p>\n Asia-Pacific markets were set to open broadly lower Wednesday, tracking Wall Street losses amid worries over escalating Middle East tensions, elevated oil prices and higher bond yields. <\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0was poised to decline, with the Chicago futures contract at 64,845 and its Osaka counterpart last trading at 64,880, compared with the index’s previous close of 66,215.34.<\/p>\n Hong Kong\u00a0Hang Seng index<\/a>\u00a0futures were at 25,176, compared with the index’s last close of 25,329.73.<\/p>\n Futures for Australia’s S&P\/ASX 200<\/a> last traded at 8,933, while the index closed at 9,066.70.<\/p>\n Tensions between Iran and the U.S. continue to escalate, after the U.S. carried out its latest round of attacks on Iran. <\/p>\n The U.S. Central Command said in a X post<\/a>, the strikes “follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members.” <\/p>\n A tanker was struck by three unknown projectiles while transiting Hormuz on Monday, the\u00a0U.K. Maritime Trade Operations Centre<\/a> said in an incident report<\/p>\n \u2014Justina Lee <\/p>\n See the stocks moving after hours<\/p>\n These are some of the stocks moving after hours:<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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