The Business Times

Europe: Stocks waver at open; London loses ground

Published Fri, Jun 17, 2022 · 04:02 PM

EUROPEAN equities diverged in opening deals on Friday (Jun 17), with London falling after the Bank of England (BOE) lifted interest rates to a 13-year high to tackle surging inflation.

London's benchmark FTSE 100 index slid 0.1 per cent to 7,039.88 points, one day after the BOE lifted its key rate by a quarter-point to 1.25 per cent - and also warned it could act more "forcefully" to combat persistent inflationary pressures.

In the eurozone, Frankfurt's DAX index gained 0.4 per cent to 13,089.35 points and the Paris CAC 40 won 0.2 per cent to 5,895.56.

World equities had tanked Thursday as key central banks hiked interest rates in efforts to tame runaway inflation, actions that raised fears they could spark recessions.

Asian indices fell further on Friday after another hefty drop on Wall Street. AFP

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