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Markets

European stocks climb at open

Published July 7, 2015 Updated July 7, 2015 08:53am

imageLONDON: Europe's main stock markets rose slightly at the start of trading on Tuesday after heavy losses the previous day.

Frankfurt's DAX 30 gained 0.36 percent to 10,930.02 points compared with Monday's close.

The CAC 40 in Paris edged up 0.02 percent to 4,712.63 points and London's FTSE 100 index rose 0.10 percent to 6,542.57.

Indices had slumped on Monday, with Paris shedding 2.0 percent in value, after Greece rejected creditors' austerity demands in a weekend referendum and fears rose that it would crash out of the eurozone.

On Tuesday, eurozone leaders are to hold an emergency summit to discuss the fallout of the vote that saw Greeks decisively rejected austerity reforms demanded by Athens' creditors in return for bailout funds.

Late on Monday, the leaders of Germany and France, the eurozone's biggest economies, presented a united front, calling on Greek Prime Minister Alexis Tsipras to make "precise" proposals in order to revive bailout talks.

Britain is not part of the eurozone but counts the single currency bloc as its main trading partner.

Copyright AFP (Agence France-Presse), 2015

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