Gokhan Ergocun
21 October 2022•Update: 21 October 2022
ISTANBUL
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.
