Europe: Equities drop at open on inflation woes

EUROPE’S main stock markets slid at the open on Friday (Sep 16) as investor alarm spread over stubbornly high global inflation.

London’s FTSE 100 index slid 0.5 per cent to 7,244.94 points, hit also by tumbling UK retail sales.

In the eurozone, Frankfurt’s DAX index sank 1.2 per cent to 12,804.16 points and the Paris CAC 40 also shed 1.2 per cent to 6,085.18.

Asian equities also dropped Friday, tracking Wall Street losses as investors continue to exhibit concern over persistently high consumer prices and the likelihood of further interest rate hikes.

Both the US Federal Reserve and the Bank of England are widely expected to ramp up borrowing costs next week. AFP