You are here

Europe: Stocks stable at open

Tuesday, July 26, 2016 - 15:43
1_39199794 - 25_07_2016 - UK LSE.jpg

[LONDON] Europe's main stock markets steadied at the start of trading on Tuesday, as dealers awaited this week's interest rate decisions in Japan and the United States.

In initial trade, London's FTSE 100 index added nearly 0.2 per cent to stand at 6,720.94 points, compared with the close on Monday.

In the eurozone, Frankfurt's DAX 30 was essentially flat at 10,199.66 points, while the Paris CAC 40 firmed almost 0.1 per cent to 4,385.32.

Eurozone stock markets had risen tentatively on Monday, buoyed by resilient German post-Brexit business sentiment, as traders await Japanese and US central bank talks for possible hints of future action.

However, London shares finished in the red, with the energy sector dented by sliding oil prices.

While the Federal Reserve, which concludes its latest meeting on Wednesday, is not expected to make any big announcement its statement will be pored over for clues about policy following a run of strong data that have fanned talk of an interest rate rise.

The Bank of Japan, whose gathering concludes Friday, is widely considered to be lining up a fresh wave of easing, as the government prepares a promised fiscal stimulus package to kickstart the torpid economy.

AFP