Solid Gold Berjangka | European Markets Open Slightly Higher After Downbeat Week; Investors Digesting Bank of England Rate Hike
European markets opened slightly higher to close off a downbeat week, as investors digest the Bank of England rate hike Thursday and more company earnings.
The pan-European Stoxx 600 index was up 0.2% in the first few minutes of trading, with sectors spread across positive and negative territory. Banking stocks led minor gains, up 0.6%, while media stocks dropped 0.4%.
The Bank of England raised its main interest rate by 25 basis points to a 15-year high of 5.25%, as policymakers try to tackle sticky inflation.
Investors are also watching out for a series European banking results and a major U.S. employment report due out later Friday.
The Stoxx 600 index closed 0.7% lower in the previous session, with most sectors in decline. Tech stocks led the losses with a 1.8% downturn as global sentiment remained gloomy after Fitch Ratings downgraded the United States’ long-term credit rating from AAA to AA+.
U.S. futures ticked higher Thursday night as Wall Street assessed the latest earnings from big-name technology companies. Asia-Pacific markets were mixed on Friday as rising bond yields continue to put pressure on stocks in the wake of the U.S. credit downgrade.
Source : CNBC
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