Europe: Stock markets steady at open

[LONDON] Europe's main stock markets steadied at the start of trading Monday after solid gains before the weekend, as traders assess whether the Federal Reserve will raise interest rates this year.

London's benchmark FTSE 100 index dipped 0.09 per cent to 6,410.22 points compared with Friday's close.

In the eurozone, the Paris CAC 40 edged up 0.08 per cent to 4,705.22 points while the DAX 30 in Frankfurt was firmer, winning 0.32 per cent to 10,128.49.

The flat start for the FTSE "comes in the wake of the index's best weekly advance since January", noted Mike van Dulken, head of research at trading group Accendo Markets.

European stock markets had advanced Friday thanks to growing hints that US interest rates will not rise until next year.

But over the weekend, Fed vice chairman Stanley Fischer said the bank expected to stick to its plan to tighten monetary policy by the end of the year.

However he also noted that "both the timing of the first rate increase and any subsequent adjustments to the federal funds rate target will depend critically on future developments in the economy".

AFP