European shares slip after three-day gain as rise in oil, yields weigh

European shares edged ‌lower on Wednesday after three straight sessions of gains, as higher oil prices and ascent in global bond yields ‌weighed on sentiment.

The pan-European STOXX 600 index was ‌down 0.4% to 633.98 points by 0823 GMT, with tech and mining stocks leading declines. Oil prices climbed almost a percent as ⁠the market ​weighed supply ⁠constraints from a storm heading for US oil-producing regions and attacks ⁠by Yemen's Iran-backed Houthis on Saudi Arabia against increased supplies ​of Middle East crude.

US and Europe bond ⁠yields edged higher and French spreads widened on lingering concerns about ⁠France's ​deteriorating fiscal situation ahead of next year's presidential election. Among individual stocks, UK's Pennon Group shed 15.4% ⁠after the water utility firm launched a fully underwritten £550 ⁠million ($728.5 million) ⁠rights issue and lowered its dividend in a bid to fix operational problems.