European stock markets steady at open

AFP , Monday 31 Jul 2023

European stock markets were largely steady at the start of trading on Monday, looking ahead to a Bank of England interest-rate call later in the week.

File Photo: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 16, 2019. Reuters


London's benchmark FTSE 100 index opened flat at 7,694.53 points, with traders sitting tight before the BoE decision on Thursday.

In the eurozone, Frankfurt's DAX index fell 0.2 percent to 16,435.14 points and the CAC 40 in Paris dipped 0.1 percent to 7,466.79.

"Later in the week the Bank of England is expected to announce a further interest rate rise of 0.25 percent, with an apparently faint possibility of a 0.5-percent hike also in play," said Richard Hunter, head of markets at Interactive Investor.

The BoE is seen raising rates once more, with UK annual inflation still high at almost eight percent.

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