Banking

European indices edge higher after Bank of England hikes interest rates


The European markets rose at the opening hour on Friday. The British FTSE was last trading marginally lower. French CAC was trading 0.21 percent in the green, while the biggest European market by volume, German DAX was up 0.1 percent.

The European markets rose at the opening hour on Friday. The British FTSE was last trading marginally lower. French CAC was trading 0.21 percent in the green, while the biggest European market by volume, German DAX was up 0.1 percent.

The indices ended lower on Thursday, after the Bank of England announced policy decision. BoE hiked rates by 25 basis points, on the expected lines, rising the interest rates for the 14th consecutive time.

Wall Street ended largely unchanged in the previous session. Dow ended 0.19 percent lower. While S&P and Nasdaq closed 0.25 and 0.1 percent lower, respectively.

The European markets are also taking cues from their Asian counterparts. Japan’s Nikkei was last trading 0.1 percent higher, while China’s Shanghai Composite was trading 0.2 percent in the green. Hong Kong’s Hang Seng was trading 0.62 percent higher.

At the last count, Brent crude futures were trading 0.39 percent higher at $85.48 a barrel. US West Texas Intermediate futures, too, were trading 0.48 percent higher at $81.95 per barrel. Oil prices on track to post sixth weekly gain.



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