European stock markets open week at low note

ANKARA

European stock exchanges were lower at the opening bell on Monday ahead of interest rate decisions by the major central banks, including the US Federal Reserve and the Bank of England (BoE).

The Fed on Wednesday is expected to raise its policy interest rate by 75-100 basis points, further denting the risk appetite worldwide.​​​​​​​

After delaying its gathering for a week due to "the period of national mourning" after the death of Queen Elizabeth II, the BoE will announce the interest rate decision on Thursday and is expected to increase the rate by 50 basis points to 2.25%.

On Monday, China’s central bank cut the borrowing cost of 14-day reverse repos and increased cash injections into the economy in a bid to boost growth which was hit by COVID-19.

China's central bank injected 2 billion yuan ($286.5 million) through seven-day reverse repos.

The STOXX Europe 600, which includes 90% of the market capitalization in 17 European countries, decreased 0.15% or 0.62 points to 407.62.

Germany's DAX 30 was down by 0.21%, or 26.7 points, to 12,714.55 points.

France's CAC 40 fell 0.47%, or 28.7 points, to open the day at 6,048.6 points.

Italy's FTSE MIB declined 0.35%, or 77.9 points, to 22,033.

Spain's IBEX 35 dropped 0.27% or 21.3 points to 7,963.4.

The UK’s FTSE 100 index was closed due to a bank holiday for the funeral of the queen.