European shares fall as property stocks weigh

European shares fell on Monday as relief from last week’s strong U.S. jobs data faded and interest rate-sensitive sectors such as real estate and utilities came under pressure from rising bond yields.

The pan-European STOXX 600 index fell 0.2 percent, with property stocks down 1 percent and utilities down 0.5 percent.

The STOXX 600 rose on Friday after U.S. labor market data eased recession fears, dampened expectations for sharp rate cuts and bond yields rose broadly, with German 10-year bund yields trading at a one-month high.