FTSE 100 Opens Higher as DAX Slips on Rate Outlook

The FTSE 100 index opened slightly higher on September 22, while its continental peer the DAX slipped. This set up a split session across European equity markets.

The Bank of England's decision to hold its benchmark rate at 3.75% against rising inflation has kept UK blue chips supported. Traders are weighing what tighter-for-longer means for growth.

London-listed stocks are benefiting from a steady rate outlook, which provides a near-term prop. Borrowing costs are known, and yield-seeking money has less reason to rotate out of equities into bonds than it would if a hike were imminent.