European stocks rally more than 1.0pc at open

LONDON: European stock markets rallied by more than 1.0 percent in opening deals on Friday, clawing back some of their recent dizzying losses, but sentiment remained plagued by global economic worries.

London's FTSE 100 index of leading shares rose 1.05 percent to 5,093.92 points, Frankfurt's DAX 30 added 1.22 percent to 5,227.09 points and in Paris the CAC 40 won 1.43 percent to 2,821.43.

Elsewhere, the Milan stock market gained 1.70 percent and Madrid climbed by 1.51 percent in value.

World stock markets had slumped Thursday as fears mounted that the world was heading for a fresh economic downturn amid the rampant eurozone debt crisis.

The mood darkened after the US Federal Reserve warned of serious downside risks to the world's biggest economy, which sent investors fleeing to safe-haven currencies and assets.

The Group of 20 major economies vowed Friday to mount a powerful response to the rising challenges facing the world economy as it reels from the fast-moving debt crisis in the eurozone.

Copyright AFP (Agence France-Presse), 2011