FTSE rebounds at open

By Staff Reporter
AFP European Edition

Apr 24, 2012 03:57 EDT

London equities rebounded slightly at the start of trading on Tuesday following a day of sharp losses triggered largely by fears of eurozone debt contagion.

The benchmark FTSE 100 index rose 0.30 percent to 5,682.60 point in opening deals.

In the eurozone, Frankfurt's DAX 30 climbed 0.66 percent to 6,566.11 points while in Paris the CAC 40 gained 0.42 percent to stand at 3,111.45.

The FTSE closed sharply lower Monday, falling 1.85 percent to 5,665.57 points.

Elsewhere markets also plunged, with Paris slumping 2.83 percent and Frankfurt shedding 3.36 percent -- after a strong far-right showing in French presidential polls and amid weak Chinese manufacturing data.

Dutch Prime Minister Mark Rutte's liberal government meanwhile resigned on Monday after the collapse of its parliamentary partnership with a far-right party over austerity measures.

The turmoil has raised fears that the Netherlands' gold plated triple A credit rating could be in danger. It is one of only four eurozone countries to still retain AAA status among the three main credit rating agencies.

Source: AFP European Edition

 

Related Stories