LONDON, April 11 ― Europe's stocks diverged at the open today before the European Central Bank's latest interest rate decision, as dealers mulled losses elsewhere sparked by hotter-than-expected US inflation.
London's benchmark FTSE 100 index of top UK companies was flat at 7,959.47 points.
In the eurozone, the Paris CAC 40 index rose 0.3 per cent to 8,068.69 points while DAX in Frankfurt slipped 0.1 per cent to 18,072.62.
Asian equities slid after forecast-topping US inflation dealt a hefty blow to hopes for a Federal Reserve interest rate cut in June and forced traders to re-evaluate the outlook for monetary policy.
The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fuelling speculation that Japanese authorities will step in to support their beleaguered currency.
Later today, the ECB is expected to hold its key interest rate at a record high again but pave the way for a first cut in June as eurozone inflation eases. ― AFP
