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European stocks fall in early trading

Monday, August 22, 2016 - 16:03
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[LONDON] European stock markets fell in initial deals on Monday, as traders look ahead to a key meeting of central bankers at the end of the week.

London's benchmark FTSE 100 dropped 0.3 to 6,837.48 compared with the close on Friday.

In the eurozone, Frankfurt's DAX 30 shed 0.3 per cent to 10,513.83 points and the Paris CAC 40 lost also 0.3 per cent to stand at 4,389.25.

Investors were looking ahead to "a relatively quiet week with (Fed chief) Janet Yellen headlining on Friday with her speech" at the Jackson Hole gathering of central bankers, said Craig Erlam, senior market analyst at Oanda trading group.

"The Jackson Hole event has previously been a platform for the Fed to provide more clarity to the markets and warn about upcoming policy changes, something the market is currently in desperate need of." The dollar rose Monday after the Federal Reserve's vice chairman said the US economy was picking up.

Stanley Fischer on Sunday said that the world's top economy was meeting all the Fed's targets and that growth would improve, hinting that borrowing costs could rise this year.

AFP