U.S. stocks recovered from early losses for a second day as investors weighed prospects of economic growth with concern the Federal Reserve will reduce stimulus efforts. Japanese shares rebounded from their largest drop since 2011, while commodities fell for a fourth day.
Spanish and Italian bonds fell for a second day, pushing 10-year yields to the highest levels in a month, as the Federal Reserve’s signal it may slow asset purchases reduced demand for higher-yielding assets.
Raiffeisen Bank International AG Chief Executive Officer Herbert Stepic offered to resign from eastern Europe’s second-biggest lender, a day after officials began a probe into his investments through offshore accounts.
Raiffeisen Bank International AG Chief Executive Officer Herbert Stepic is being probed by the company’s compliance department after press reports showed he used an offshore account to manage real estate investments.
Bunzl Plc, the world’s largest distributor of disposable tableware and food packaging, advanced to a record high even as the company remains analysts’ second- least favored stock in the U.K.’s FTSE 100 Index.
German government bonds fell, pushing 10-year yields to the highest level in nine weeks, after the Bundesbank said the economy will improve “markedly” this quarter, damping demand for the region’s safest securities.