Europe: Stocks mostly ahead at open

[LONDON] European stocks mainly rose Monday at the opening bell, as investors remained cautious over the deadly coronavirus pandemic, dealers said.

London's benchmark FTSE 100 index of major blue-chip companies firmed 0.1 per cent to 5,794.24 points.

In the eurozone, Frankfurt's DAX gained 0.5 per cent to 10,676.09 points and the Paris CAC 40 rose 0.3 per cent to 4,513.25.

Milan's FTSE Mib advanced 0.1 per cent to 17,078.50 but Madrid's IBEX 35 fell 0.3 per cent to 6,854.30 points.

New York oil meanwhile collapsed below US$15 a barrel Monday, hitting the lowest level in more than two decades, with traders concerned that storage facilities are filling up as Covid-19 strangles demand.

"Coronavirus-related developments will continue to remain top of market minds for investors in a busy week ahead," said Scope Markets analyst James Hughes.

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"There is growing fear about how US citizens are reacting and whether the government is going far enough to make sure the public adhere to the lockdown rules.

"President Donald Trump has been under fire for his handling of the coronavirus crisis, with his usual off the cuff press conferences leaving many nervous."

AFP