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Europe: Stocks slip at open

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[LONDON] Europe's stock markets slid in opening deals on Monday as Italian Prime Minister Matteo Renzi resigned after losing a key referendum, sparking fresh eurozone fears.

Investors were however comforted after independent candidate Alexander Van der Bellen beat far-right rival Norbert Hofer in Austria's presidential election.

Milan's benchmark FTSE MIB index dived more than two percent in initial deals before pulling back to 16,970 points, down 0.7 per cent from Friday's close.

Elsewhere, Frankfurt's DAX 30 dropped 0.2 per cent to 10,494.64 points and in Paris the CAC 40 shed 0.5 per cent to 4,506.66.

Outside of the eurozone, London's FTSE 100 lost nearly 0.4 per cent to 6,704.88.


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