Europe: Markets open mixed after US, Asia losses

EUROPEAN stock markets were mixed at the open on Thursday (Oct 20) following losses in Asia and Wall Street over concerns about inflation and rising interest rates.

London’s FTSE 100 was down 0.3 per cent to 6,904.82 points as Britain’s embattled Prime Minister Liz Truss was rocked by fresh chaos following her disastrous budget plan, with her hardline interior minister quitting her post.

The Frankfurt DAX shed 0.5 per cent to 12,674.63 points while the Paris CAC 40 bucked the trend as it rose 0.3 per cent at 6,059.62 points.

Wall Street fell on Wednesday as the yield on the 10-year US Treasury note, a proxy for Federal Reserve interest rates, jumped above four per cent.

The Fed, meanwhile, warned that economic prospects are becoming “more pessimistic” in the United States on growing worries of weaker demand, citing heightened inflation and rising interest rates. AFP