Europe: Stocks drop at open following volatile week

[LONDON] Europe's main stock markets dropped at the open Friday as traders closed a highly volatile week after inflation worries, mixed earnings and strong economic growth data.

London's benchmark FTSE 100 index dropped 0.3 per cent to 7,532.24 points.

In the eurozone, Frankfurt's DAX index shed 0.8 per cent to 15,399.25 points and the Paris CAC 40 lost 0.1 per cent to 7,014.29.

Paris losses were capped by official data on Friday showing the French economy grew seven per cent last year, its fastest growth in 52 years.

On the corporate front, Apple reported a record US$124 billion quarterly revenue despite a global chip pinch and shifting impacts of the pandemic that have weighed down other big tech players.

The week's trading has been dominated by Federal Reserve policy as the US central bank seeks to battle decades-high inflation by embarking on a series of interest rate hikes.

Markets are also closely tracking developments regarding the Ukraine crisis. AFP