Europe: Stocks drop at open

[LONDON] European stock markets fell at the start of trading on Monday following sharp gains before the weekend, with London's benchmark FTSE 100 index down 0.13 per cent to 7,037.86 points.

Frankfurt's DAX 30 lost 0.30 per cent to 11,674.52 points and the CAC 40 in Paris shed 0.78 per cent to 5,050.92 on slight profit-taking.

Most European indices had shot higher on Friday as US job creation figures, while solid, were viewed by the market as not being strong enough for the US Federal Reserve to begin raising interest rates next year.

London's stock market had rallied also as Prime Minister David Cameron's Conservatives held on to power in Britain's general election, with the country avoiding political instability at least in the short term.

AFP