Major European stock market indexes traded lower at the open on Friday after the European Central Bank decided to raise its key interest rates by 0.5 percentage points for the first time in 11 years. ECB President Christine Lagarde stated that inflation will stay undesirably high for some time, nevertheless, assuring that the euro area will not face a recession this year or in 2023.
On the data front, the United Kingdom’s retail sales fell 0.1% month on month, while reports on the EU and German composite PMIs will be released later during the day.
The DAX decreased 0.45% at the opening bell, with HelloFresh tumbling 2.95% at 9:01 am CET. The CAC 40 fell 0.43% at 9:01 am CET, as Pernod Ricard lost 1.05% at the same time. The FTSE 100 declined 0.11% at the open and reversed its losses not too long after, rising 0.15% at 9:15 am CET.
The euro lost 0.21% against the dollar at 8:59 am CET, selling for 1.02081. The pound was 0.08% down versus the greenback, going for 1.19855 at the same time.