European stocks waver at open; London loses ground

LONDON: European equities diverged in opening deals on Friday, with London falling after the Bank of England lifted interest rates to a 13-year high to tackle surging inflation.

London’s benchmark FTSE 100 index slid 0.1 percent to 7,039.88 points, one day after the BoE lifted its key rate by a quarter-point to 1.25 percent – and also warned it could act more “forcefully” to combat persistent inflationary pressures.

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

European stocks post six straight days of losses

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.