Friday saw a lower start to European markets as investors kept an eye on economic data and the continued volatility in the UK debt markets.
Not long after the opening bell, the pan-European Stoxx 600 index was down 0.1%, with the majority of sectors and major bourses in negative territory. During early morning trading, the London Stock Exchange’s FTSE 100 fell more than 0.1%.
After the French video game developer announced last year that it had hired strategic advisors to examine its alternatives in response to rumours that a purchase was being considered, Ubisoft’s stock was down more than 8% by 8:17 a.m. London time.
Investors in the area are keeping an eye on events in the U.K. market because this week yields on some gilts, or British government bonds, reached their highest levels in decades.
Thursday saw the yield on 10-year gilts reach its highest level since the 2008 financial crisis, following days in which 30-year gilt yields surged to their highest levels since the late 1990s. There was minimal movement in the yields on Britain’s 10-year gilt on Friday morning.
Source (CNBC)
