LONDON: Europe’s major stock markets opened in the red on Friday, following news that the UK economy stalled in the third quarter.

London’s benchmark FTSE 100 index decreased 0.5 percent to 7,418.70 points, dented also by a profit warning from drinks giant Diageo.

European stock markets drop at open

In the eurozone, Frankfurt’s DAX index shed 0.3 percent to 15,305.07 points and the Paris CAC 40 lost 0.5 percent to 7,077.81.

Sentiment was also hit after Federal Reserve boss Jerome Powell warned he “will not hesitate” to hike US interest rates further in his quest to bring inflation to heel.