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Europe: Stocks drop at open on China woes

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Europe's main stock markets sank at the start of trading Wednesday, with sentiment hurt by renewed worries over China's economic slowdown, dealers said.

[LONDON] Europe's main stock markets sank at the start of trading Wednesday, with sentiment hurt by renewed worries over China's economic slowdown, dealers said.

London's benchmark FTSE 100 index of top blue-chip companies shed 0.77 per cent to 6,293.12 points compared with Tuesday's closing level.

In the eurozone, the Paris CAC 40 dropped 0.75 per cent to 4,608.42 points while the DAX 30 in Frankfurt dipped 0.84 per cent to 9,948.49.

This month's rally across global equities and currency markets was brought to a halt Tuesday when China released figures showing imports plunged by more than a fifth in September while exports also declined.

On Wednesday, official figures showed inflation weakened last month from August, while the prices paid at factory gates - a key gauge of demand in the economy - remained unchanged at a six-year low.

AFP

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