LONDON: Europe’s equities opened higher Friday, mirroring gains elsewhere, as investors mulled the interest rate outlook after a hectic week for global monetary policy.
In initial trade, London’s benchmark FTSE 100 index of top blue-chip companies won 0.3 percent to 7,653.93 points compared with Thursday’s close.
Frankfurt’s DAX index added 0.1 percent to 16,301.79 points and the Paris CAC 40 climbed 0.3 percent to 7,310.14.
Eurozone stocks had taken a hit on Thursday after the European Central Bank raised interest rates to a 22-year high and warned that another hike in July was very likely to tackle high inflation despite a recession.
The move came one day after the US Federal Reserve paused its rate-hiking cycle after 10 straight increases – but signalled more to come in order to tame inflation.
European markets mostly drop before ECB
The People’s Bank of China, however, cut rates this week in a bid to boost the flagging Asian powerhouse economy.
Added to the mix, the Bank of Japan on Friday maintained its long-standing, ultra-loose monetary policy, sending Tokyo shares higher.
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