Europe: Stocks extend losses at open

Published Mon, Aug 21, 2017 · 07:40 AM

[LONDON] Europe's main stock markets fell at the start of trading Monday, extending pre-weekend losses, with major takeover activity within the oil sector failing to lift sentiment.

London's benchmark FTSE 100 index shed 0.2 per cent to 7,306.69 points compared with the close on Friday.

In the eurozone, Frankfurt's DAX 30 dropped 0.5 per cent to 12,105.72 points and the Paris CAC 40 lost 0.5 per cent to 5,091.31.

European markets opened shortly after French oil giant Total said it would buy Maersk Oil, a unit of the Danish shipping giant AP Moller-Maersk, for US$7.45 billion.

Traders reacted also to news that Tokyo's benchmark stock index fell to the lowest level in almost four months, hit by lingering concerns about US President Donald Trump's stalled economic agenda.

Such worries had hit global stocks on Friday, with valuations pressured further by the terror attacks in Barcelona as investors sought haven investments such as the yen and gold.