European stocks rose on Wednesday, recovering from sharp losses suffered in the previous session, as long-term bond selling appeared to stabilize while investors awaited U.S. jobs data.

The pan-European Stoxx 600 index climbed 0.4% to 545.35 points, driven by a 1.3% gain in the technology sector, which posted the best performance.

Shares of Adidas rose 2.5% after Jefferies brokerage upgraded the German sportswear brand’s stock to “buy” from “hold,” citing increased diversification of the company’s growth drivers.

Some pressure on stocks eased as long-term European bonds stabilized following a selling wave on Tuesday, triggered by concerns about financial resilience, which also weighed on stocks as the Stoxx index recorded its largest one-day drop in over a month.

Swiss Life shares fell 2.4% after the insurer reported a decline in net profits for the first half of the year due to higher tax expenses. (Reuters)