Europe: Stock markets rise at open

[LONDON] Europe's main stock markets rose slightly at the open Wednesday following sharp losses the previous session, as oil prices recovered on positive Chinese data, traders said.

London's benchmark FTSE 100 index climbed 0.2 per cent to 6,105.90 points compared with Tuesday's close, as markets awaited minutes from the Federal Reserve's last meeting.

In the eurozone, Frankfurt's DAX 30 index gained 0.2 per cent to 9,598.46 points and the Paris CAC 40 won 0.3 per cent to 4,262.30.

Europe's leading indices had slumped on Tuesday, with Frankfurt shedding 2.6 per cent in value, as anxiety about slowing economic growth and a potentially poor earnings season led to heavy selling.

Tokyo's benchmark index closed lower for the seventh straight session on Wednesday.

"European equities are... showing early signs of a rebound after yesterday's hefty losses," said Markus Huber, a trader at City of London Markets.

"Encouraging economic data out of China overnight... is providing much needed good news for stocks as negative sentiment has gained momentum over the past few days.

"Furthermore German industrial production declined less in February than previously thought," Huber added.

AFP