European markets open lower as investors digest ECB decision
Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom.
Mike Kemp | In Pictures | Getty Images
LONDON — European markets opened lower on Friday as investors considered the latest ECB interest rate decision.
The pan-European Stoxx 600 was last down 0.57% at 10:43 a.m. London time.
Almost all sectors were lower, with travel and leisure stocks tumbling 2.64%, and mining stocks declining 2.28%.
European markets have retreated throughout the week with the Stoxx 600 closing lower for the last four consecutive days.
The picture was similar across the world, with Asia-Pacific markets declining on Friday as they followed Wall Street lower. U.S. markets closed lower on Thursday, with the Dow Jones Industrial Average snapping a six-day winning streak. U.S. futures were last slightly higher.
The European Central Bank announced on Thursday it would hold interest rates steady for now, after cutting them in June. ECB officials also said they expected headline inflation to remain above their target rate until next year.
Source – CNBC
