Europe: Markets mainly dip at open

EUROPEAN equity markets mostly dropped at the open on Tuesday (May 31), as a global stocks rally faltered on stubborn inflation fears, dealers said.

Frankfurt's benchmark DAX shares index dipped 0.7 per cent to 14,476.02 points and the Paris CAC 40 shed 0.6 per cent to 6,526.10 as data showed the French economy shrank in the first quarter.

On the upside, London's FTSE 100 index gained just 0.1 per cent to 7,608.54 points, compared with the closing level on Monday.

Asian markets fluctuated Tuesday with inflation continuing to niggle owing to a pick-up in oil prices, while a top Federal Reserve official pressed for a series of sharp interest rate hikes. AFP