The European markets fell at the opening hour on Friday. The British FTSE was last trading 0.2 percent higher. French CAC was trading 0.7 percent in the red, while the biggest European market by volume, German DAX was up 0.3 percent.

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The indices ended sharply higher on Thursday. CAC ended two percent in the green, and DAX was up 1.7 percent. The European Central Bank raised interest rates for the ninth consecutive time on Thursday and kept the door open to further tightening as stubborn inflation and a growing risk of a recession pull policymakers in opposing directions.

Wall Street ended lower in the previous session. Dow ended 0.7 percent lower, snapping its longest gaining streak since 1987. While S&P and Nasdaq closed 0.6 and 0.5 percent lower, respectively.

The European markets are also taking cues from their Asian counterparts. Japan's Nikkei was last trading 0.4 percent lower, while China's Shanghai Composite was trading 1.8 percent in the green. Hong Kong's Hang Seng was also trading 1.4 percent higher.

The Bank of Japan on Friday said it will aim to control yield curve flexibly and will buy 10-year bonds at one percent every business day. It also widened the range for certain bond purchases in its plan for August.

At the last count, Brent crude futures were trading 0.4 percent lower at $83.9 a barrel. US West Texas Intermediate futures, too, were trading 0.3 percent lower at $79.9 per barrel.

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First Published:Jul 28, 2023 1:10 PM IST