European stock markets down at open

STOXX Europe 600 decreases 1%, DAX down 0.94%, CAC 40 falls 1.21%

By Gokhan Ergocun

ISTANBUL (AA) – European stock exchanges were weaker at Friday’s open amid increasing inflation and interest rates and political uncertainties across the EU.

The US 10-year-bond yields saw the highest level since 2007 with 4,271%, while Germany and France's 10-year-bond yields hit the 11-year and four-year highs, respectively, on Thursday.

Following the resignation of Liz Truss as British prime minister on Thursday, the GBP/USD parity fell from 1.13 to 1.12 and the UK's 10-year-bond yields exceeded the 4% level.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 1% to 394.7 points.

Germany's DAX index lost 0.94% to hit 12,648 points, while French CAC 40 dropped 1.21% to 6,013 points.

The UK’s FTSE 100 index decreased 0.54% to 6,906 points.

Italy’s FTSE MIB went down 0.2% to 21,491 points, and Spain’s IBEX 35 lost 1.06% to 7,564 points.

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