European equities lose ground at open

January 21, 2022: Europe's main stock markets slid in opening deals on Friday after earlier losses in Asia and overnight on Wall Street, dented by fears of rising interest rates.

London's benchmark FTSE 100 index of major blue-chip companies dropped one percent to 7,506.90 points compared with the closing level on Thursday, as investors also digested sliding UK retail sales.

In the eurozone, Frankfurt's DAX shed 1.4 percent to 15,691.62 points and the Paris CAC 40 lost 1.5 percent to stand at 7,087.04 points.

Markets fell in Asian trade Friday following another wave of losses on Wall Street as traders returned their focus to the Federal Reserve's plans to ramp up interest rates, while oil prices sank from their seven-year highs.

Economies worldwide are battling decades-high inflation that is forcing central banks to lift interest rates, including the Bank of England.

AFP/APP