Europe: Markets climb at open
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EUROPEAN stocks opened higher on Tuesday (Aug 30), as London returned from a long holiday weekend to dwell on the US interest rate outlook.
The British capital’s benchmark FTSE 100 index rose 0.5 per cent to 7,463.11 points, compared with Friday’s close after a public holiday on Monday.
In the eurozone, Frankfurt’s DAX index added 0.7 per cent to 12,982.08 points and the Paris CAC 40 gained 0.7 per cent to 6,265.65 compared with Monday’s closing levels.
Most equities had fallen on Monday as traders digested Federal Reserve chief Jerome Powell’s warning of more interest rate hikes to fight inflation.
Wall Street had tumbled on Friday after Powell indicated more monetary tightening was needed to bring inflation down from 4-decade highs. AFP
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