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Europe: Stocks drop as London hit by Brexit delay speculation

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European stocks fell in initial trade on Tuesday, with London down as the pound rallied on speculation over a possible Brexit delay, dealers said.

[LONDON] European stocks fell in initial trade on Tuesday, with London down as the pound rallied on speculation over a possible Brexit delay, dealers said.

In opening deals, London's benchmark FTSE 100 index of major blue-chip companies sank 0.7 per cent to 7,132.56 points, compared with the closing level on Monday.

The stronger pound weighs on London-listed multinationals whose earnings abroad are converted back into sterling.

In the eurozone, Frankfurt's DAX 30 index dipped 0.5 per cent at the open to 11,446.29 points and the Paris CAC 40 slid 0.4 per cent to 5,212.86.

AFP

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