European stock markets lower at Friday's open

ANKARA

European stock exchanges were down at Friday's open after an aggressive rate hike from the European Central Bank.

The ECB on Thursday hiked rates by 75 basis points, its third major increase in a row, bringing borrowing costs to their highest level in more than a decade to tackle record eurozone inflation.


The pan-European STOXX 600 was down 0.96% to 406.26 points, while the UK's FTSE 100 index fell 0.89% to 7,010.69 points.

Germany's DAX 30 was down by 0.86% to 13,098 points, and France's CAC 40 declined 0.68% to 6,201.86 points.

Italy's FTSE MIB dropped 0.87% to 22,395 points, while Spain's IBEX 35 fell 0.93% to 7,847 points.