ONDON, March 10 — European stock markets dipped today at the open after surging the previous day as investors had seized on sliding oil prices and a glimmer of hope for Russia-Ukraine peace talks.
London’s FTSE 100 index and the Paris CAC 40 each dropped 0.4 per cent, while Frankfurt’s DAX shed 0.5 per cent in value.
Frankfurt and Paris had soared by more than seven per cent yesterday while London won 3.3 per cent.
“Markets rallied strongly (yesterday) as the oil price weakened and as sentiment received an overdue boost, following hopes of some progress in diplomatic talks between Russia and Ukraine,” said Interactive Investor analyst Richard Hunter.
He added: “The FTSE 100 paused for breath at the open (today) despite the strength of the showings from across the pond and to some extent a continuation of the relief in Asian markets.”
Asian equities rallied today following a strong bounce on Wall Street and yesterday’s breathtaking surge in Europe, sparked also by bargain-buying after a Ukraine-fuelled rout. — AFP
