European Stocks Post First Monthly Loss in Six as Bond Yields, Oil Surge

European shares fell on Wednesday, marking their first monthly decline in six as surging global bond yields curbed appetite for risk assets. The pan-European STOXX 600 closed 0.5% lower, down 2.5% for the month and 1% for the third quarter. Energy shares slipped 0.9% but ended the month up 2.7%, the best-performing sector. Insurers led losses with a 1.4% drop, while banks and industrials fell 0.8% and 0.7%. Oil rose nearly 14% in September, its biggest monthly climb since July, as U.S.-Iran talks to end their war stalled. The 10-year German bund yield hovered near its 2009 high. Major central banks, including the Federal Reserve and ECB, raised rates or turned hawkish this month amid an energy-price shock and heavy government issuance. U.S. inflation rose less than expected in August, prompting markets to trim rate-hike bets. Britain's Greggs gained 8.2% on a raised profit outlook, and Nordnet rose 1.1% after J.P. Morgan resumed coverage with an "overweight" rating.