DAX Rebounds As Bond Yields Ease

German stocks rebounded on Tuesday as U.S. bond yields eased slightly and attention shifted to the closely-watched ZEW sentiment index due to be published later in the session.

Germany’s 10-year government bond yield steadied close to an almost 8-year high amid expectations that traders might have gone too far in pricing future ECB rate hikes.

The benchmark DAX climbed 220 points, or 1.7 percent, to 13,601 after losing 2.2 percent in the previous session.

Fraport Group shares fell nearly 3 percent. The airport operator reported wider net loss in its first quarter, despite significantly higher revenues.

Agriculture and pharmaceuticals firm Bayer was marginally higher after reporting better-than-expected earnings and revenue for the first quarter.

Copper producer Aurubis declined 1.6 percent despite lifting its full-year operating profit forecast.