Europe: Stocks rise at open

[LONDON] European stock markets rose at the start of trading on Monday, with London's benchmark FTSE 100 index gaining 0.43 per cent to 6,579.08 points.

Frankfurt's DAX 30 won 0.54 per cent to 11,044.75 points and the CAC 40 in Paris climbed 0.81 per cent to open at 4,996.76 compared with Friday's close.

Europe's main stock markets had closed slightly lower on Friday at the end of a turbulent week for equities and other financial markets, triggered by concerns over the Chinese and Greek economies.

Asian indices were mixed on Monday, with Tokyo helped by better-than-expected Japanese growth figures while Shanghai see-sawed as economic concerns overshadowed a government pledge to support China's volatile stock markets.

The dollar strengthened after solid US data boosted expectations of an imminent rate rise, heaping pressure on oil prices.

China's central bank meanwhile raised the value of the yuan against the dollar by 0.01 per cent, the national foreign exchange market said, after a devaluation last week rocked markets.

Regarding Greece, German Chancellor Angela Merkel and her hardline Finance Minister Wolfgang Schaeuble on Sunday hailed a dramatic change in their eurozone partner's approach to its debt crisis ahead of a key parliamentary vote in Berlin on a fresh bailout.

Before German MPs are asked to approve a third rescue package for debt-mired Greece on Wednesday, Merkel said Athens' new willingness to embrace reforms was down in part to Berlin's - and in particular Schaeuble's - unyielding stance.

AFP