European stock markets open week lower

By Tuba Sahin

ANKARA (AA) - Major European stock exchanges were lower at the opening bell on Monday amid concerns over rising global interest rates.

Last week, a stronger than expected US jobs data bolstered bets for more aggressive US Federal Reserve rate hikes.

On Friday, US non-farm payrolls exceeded expectations with an increase of 263,000 in September, while the overall unemployment rate dropped to 3.5%, the lowest since February 2020.

The market focus will be on US consumer inflation data for September, due on Thursday.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 0.62%, or 2.42 points, to 389.26.

The UK's FTSE 100 index fell 0.54%, or 37.49 points, to 6,953.6.

Germany's DAX 30 decreased 0.85%, or 104.42 points, to 12,168.58.

In France, the CAC 40 opened the day at 5,806.85, a decline of 1.02%, or 60.09 points.

Italy's FTSE MIB dropped 0.66%, or 137.56 points, to 20,764, while Spain's IBEX 35 lost 0.51%, or 38.22 points, to 7,398.68.