European markets drop at open; London loses 0.99pc

LONDON: Europe's main stock markets slid in opening trade on Wednesday as investors took profits from the previous day's strong rally made on optimism over the eurozone debt crisis, analysts said.

At the open, London's FTSE 100 index of leading shares fell 0.99 percent to 5,195.22 points, Frankfurt's DAX 30 slid 1.21 percent to 5,560.60 points and in Paris the CAC 40 sank 1.09 percent to 2,990.47 points after very sharp gains Tuesday.