European stocks fall at open after Italy downgrade

LONDON: European stock markets fell at the start of trading on Tuesday after a credit rating downgrade for Italy, heightening tensions over the eurozone debt crisis.

London's FTSE 100 index dropped 0.74 percent to 5,220.64 points, Frankfurt's DAX 30 lost 0.78 percent to 5,373.53 points and in Paris the CAC 40 shed 0.75 percent to 2,918.07.

Milan slumped 1.21 percent shortly after the open after Standard & Poor's downgraded overnight Italy's sovereign debt rating, adding to worries over debt contagion in the eurozone as Greece struggles to avert a default.

Copyright AFP (Agence France-Presse), 2011