European markets traded in the red on Friday (September 22). The British FTSE was last trading marginally higher. French CAC was trading 0.6 percent in the red, while the biggest European market by volume, German DAX was trading 0.2 percent lower.

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The European markets ended lower after the England's central bank kept the interest rates unchanged. The Bank of England on Thursday (September 21) left the policy rate unchanged at 5.25 percent after 14 consecutive rate hikes since December 2021. The Swiss National Bank also kept its rates unchanged. However, the central banks signaled towards higher for longer rates.

Swedish and Norwegian central banks, on the other hand, announced a 0.25 percent hike in interest rates, each.

The Wall Street indices ended at its lowest since June in the previous session. Dow ended 1.08 percent lower, while S&P and Nasdaq closed 1.64 and 1.82 percent lower, respectively. S&P and Nasdaq are on track for worst week in six months.

The US initial jobless claims falls to 2.01 lakh against 2.21 lakh in the previous week. The US 10-year and two-year yields rise to highest level since 2007 and 2006, respectively.

The Federal Reserve, on Wednesday, left its key interest rate unchanged for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signaled that they expect to raise rates once more this year.

The European markets are also taking cues from their Asian counterparts. Japan's Nikkei was last trading half a percent lower, while China's Shanghai Composite and Hong Kong's Hang Seng were trading 1.5 percent and two percent higher, respectively.

Crude oil prices were last trading in the green boosted by supply concerns. Brent crude oil were trading 0.4 percent higher at $93.6 per barrel. WTI prices, too, were trading half a percent higher at $90.12 per barrel.

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First Published:Sept 22, 2023 1:11 PM IST