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Europe: Stocks fall at open

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European stock markets fell at the start of trading on Wednesday, largely mirroring the performance across Asia after China further devalued its currency and reported more poor data.

[LONDON] European stock markets fell at the start of trading on Wednesday, largely mirroring the performance across Asia after China further devalued its currency and reported more poor data.

London's benchmark FTSE 100 index dropped 0.76 per cent to 6,613.86 points compared with Tuesday's close.

Frankfurt's DAX 30 slid 1.26 per cent to 11,151.72 points and the CAC 40 in Paris shed 0.93 per cent to open at 5,051.49.

Asian shares fell on Wednesday after China cut the yuan's value against the dollar for a second day, fuelling concern about the world's number two economy and driving expectations that the currency could fall further.

AFP

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