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Markets

European stock markets rebound at open

Published Updated

imageLONDON: Europe's main stock markets rebounded slightly at the start of trading on Monday following heavy losses at the end of last week caused by persistent concerns over global economic strains.

London's FTSE 100 benchmark index rose 0.6 percent to 5,881.81 points compared with the close on Friday.

In the eurozone, Frankfurt's DAX 30 index climbed 0.5 percent to 9,329.9 points and the Paris CAC 40 gained 0.4 percent to 4,217.5.

On Friday, a sharp selloff in New York led by the major tech stocks capped a day of losses on major global equity markets.

US jobs data for last month, showing a fall in the unemployment rate to 4.9 percent and a gain in wages growth, sparked worries that the Federal Reserve could decide to raise rates again as soon as March.

Concerns meanwhile linger about weak growth in the eurozone and emerging-market economies.

On Monday, oil prices ticked lower and Japanese stocks pared early losses as the dollar strengthened in thin trade, with most Asian markets closed for the Chinese New Year holiday.

Copyright AFP (Agence France-Presse), 2016

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