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European stocks drop after Fed, with ECB in focus | The Malaysian Insight

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European stocks drop after Fed, with ECB in focus

The European Central Bank is due to follow the Fed and raise interest rates as eurozone economies grapple with stubborn inflation. – EPA pic, May 4, 2023.

EUROPE’S stocks opened lower today before an expected rate hike from the European Central Bank, after the US Federal Reserve lifted borrowing costs and indicated it would not cut anytime soon. London’s benchmark FTSE 100 index lost 0.5% to 7,753.16 points compared with the closing level yesterday. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!

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