Europe: Equities ahead at open

EUROPE'S main stock markets advanced in opening deals on Monday (Jun 20) but gains were capped by lingering fears over the economic impact of rising global interest rates.

London's benchmark FTSE 100 index rose 0.4 per cent to 7,047.25 points compared with the closing level on Friday.

In the eurozone, Frankfurt's DAX index gained 0.3 per cent to 13,162.57 points while the Paris CAC 40 won just 0.1 per cent to 5,887.14.

Asian markets, however, fell further on Monday and oil prices extended losses on resurgent worries that central bank moves to rein in soaring inflation will induce recessions.

Global equities were rocked last week by a fierce sell-off fuelled by the Federal Reserve's sharp interest rate hike - the biggest in nearly 30 years - and a warning of more to come, while increases in Britain and Switzerland compounded the gloom. AFP

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