European stock markets drop at open

by AFP/ pic by AFP

LONDON – European stock markets dropped at the open Monday following heavy losses in Asia as US-China trade deal hopes faced fresh uncertainty and amid renewed unrest in Hong Kong.

London’s benchmark FTSE 100 index dropped 0.5 percent to 7,323 points, also as traders awaited the latest official British economic growth data due at 0930 GMT.

In the eurozone, Frankfurt’s DAX 30 index shed 0.4 percent to 13,173.74 points and the Paris CAC 40 lost 0.2 percent to 5,876.91, compared with Friday’s closing levels.

Madrid’s IBEX 35 index slid 0.4 percent to 9,359.20 points, after Socialist premier Pedro Sanchez emerged as winner but weakened from Sunday’s repeat election.

The vote also propelled the far-right Vox into third place in a result set to deepen years of political turmoil in Spain, a leading member of the eurozone.