Europe: Equities slide at open

EUROPEAN stock markets slid at the open on Wednesday (Jun 29), mirroring falls in Asia and on Wall Street following a gloomy US consumer confidence report.

London's benchmark FTSE 100 index lost 0.5 per cent to 7,289.08 points compared with the closing level on Tuesday.

In the eurozone, Frankfurt's DAX index shed 0.9 per cent to 13,113.46 points and the Paris CAC 40 fell 0.5 per cent to 6,054.95.

New York stocks tanked on Tuesday on data showing confidence among US consumers - who are a crucial driver of the world's top economy - had fallen to its lowest level in more than a year.

The mood-sapping reading was partly driven by a feeling inflation would persist, suggesting consumers are not sure the US Federal Reserve's aggressive efforts to tame inflation will work.

The news overshadowed a surprise move by China to slash the quarantine period for incoming travellers. AFP