European markets opened lower on Friday, with investors keeping a close eye on economic data and continued turmoil in UK debt markets.
Traders in the region are watching developments in U.K. markets, with yields on some gilts (British government bonds) hitting their highest levels in decades this week.
After yield 30-year-old gilt soar to their Highest interest rates since late 1990s In recent days, the 10-year UK government bond yield hit its highest level since the 2008 financial crisis on Thursday. British 10-year gilt return Not much changed Friday morning.
at the same time, GBP It fell to its lowest in more than a year against the dollar at 7:25 a.m. London time, trading at $1.2284.
Concerns are growing over the state of the UK economy, with investors and businesses taking note new fiscal policy that will see Rising taxes and business costsalso Weak economic data leaving the UK and sticky inflation.
Some of Europe’s largest economies are due to release economic data on Friday. France and Spain will release industrial production data for November, while Italy will release retail sales data.
Overnight in AsiaStocks were mostly lower as investors focused on Japanese data printing and reports that the People’s Bank of China would suspend purchases of government bonds.
On Wall Street, Stock index futures fell on FridayInvestors awaited the release of nonfarm payrolls data for December, with economists polled by Reuters expecting job openings to slow from last month.
— CNBC’s Lim Hui Jie and Sean Conlon contributed to this story on European markets.
