Europe: Stocks up before major UK, ECB announcements

EUROPEAN stock markets rose at the open on Thursday (Sep 8), ahead of major policy decisions from Britain and the European Central Bank aimed at tackling sky-high inflation.

London’s benchmark FTSE 100 index climbed 0.3 per cent to 7,261.10 points.

In the eurozone, Frankfurt’s DAX index gained 0.6 per cent to 12,995.52 points and the Paris CAC 40 won 0.5 per cent to 6,133.15.

New British Prime Minister Liz Truss is expected to announce on Thursday that she will freeze domestic fuel bills to help ease the burden of a UK cost-of-living crisis.

Meanwhile in Frankfurt, the European Central Bank is forecast to hike eurozone interest rates by a record-high 75 basis points. AFP