Europe: Stocks slip at open

[LONDON] European stock markets dipped in opening trade on Tuesday, before key British fourth-quarter economic growth data, and as investors digested the Greek election results.

In initial deals, London's benchmark FTSE 100 index of top companies nudged 0.08 per cent lower to 6,846.74 points, Frankfurt's DAX 30 shed 0.12 per cent to 10,785.90 and the CAC 40 in Paris lost 0.07 per cent to 4,671.76 points compared with Monday's close.

"Markets clearly remain undaunted by the situation that's now on the table in Greece, but in the short term expect London to be focused on the UK GDP release," said analyst Tony Cross at traders Trustnet Direct.

Most Asian equities climbed Tuesday on hopes Greece's new government will be able to negotiate a bailout deal with the EU and IMF that will avoid it leaving the eurozone.

Europe's main indices had mostly risen on Monday, shrugging off news that anti-austerity party Syriza won the Greek election.

However, the Athens stock market had tumbled by 3.2 per cent in value on Monday and the euro forged an 11-year dollar low.

AFP