Interest rate and inflation concerns drag Europe’s markets lower
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Markets across Europe drifted into the red as concerns over soaring inflation and higher interest rates held trading back. The FTSE 100 has slipped back but is performing better relative to its European peers, due to outperformance from the energy sector, helped by crude oil prices pushing up to another seven-year high Michael Hewson, CMC Markets Michael Hewson, chief market analyst at CMC Markets, said: “Having been dragged lower yesterday by the big tech-induced sell-off in US equity markets, European stocks initially opened higher in the wake of last night’s after-hours surge in US markets. “The FTSE 100 has slipped back but is performing better relative to its European peers, due to outperformance from the energy sector, helped by crude oil prices pushing up to another seven-year high,” he said on Friday afternoon. In company news, Upper Crust owner SSP Group nudged higher after it said its recovery is still on track despite seeing January sales dented by the spread of the Omicron coronavirus variant.