Nov 18 (Reuters) – European stocks opened higher on Friday after falling for two straight days as investors bought up battered miners, but the U.S. Federal Reserve’s The rise was capped by many hawkish comments.
Pan-European STOXX 600 Index (.STOXX) Up 0.4% by 0813 GMT with stocks of basic resources (.SXPP) It is up 1.1% after dropping more than 3% in the last two sessions.
Bank (.SX7P) Banks are expected to repay around €500 billion in TLTRO loans as the European Central Bank prepares to initiate the largest ever cash withdrawal from the eurozone banking system. The ECB announcement is scheduled for 1105 GMT.
interest rate sensitive tech stocks (.SX8P) Interest rates fell 0.6% after St. Louis Fed President James Bullard said interest rates may need to be raised from just under 4.00% to 5.00% to 5.25%.
Reported by Shreyashi Sanyal, Bangalore. Edited by Subhranshu Sahu
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