European markets open mixed as investors digest third ECB rate cut of the year
European markets were mixed as trading began on Friday with investors digesting the European Central Bank’s back-to-back interest rate cut and awaited fresh economic data and earnings.
The pan-European Stoxx 600 was down 0.06% shortly after markets opened, with most sectors and major regional bourses pulling back.
The index had ended Thursday’s trading day in the green after the ECB announced its third interest rate cut of the year. The central bank on Thursday lowered the deposit rate by another 25 basis points, as inflation risks in the European Union ease faster than anticipated.
On Friday, investors will be watching the latest U.K. retail sales data and quarterly earnings from Volvo Group.
In the Asia-Pacific region, markets in mainland China and Hong Kong rose Friday after China’s gross domestic product for the third quarter came in above expectations.
Stateside, stock futures were little changed after the Dow Jones Industrial Average recorded a record close on Thursday.
Source: CNBC