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Markets

European stocks fall at open

Published Updated

imageLONDON: Europe's main stock markets fell at the start of trading on Tuesday as EU referendum jitters returned following huge gains for the region's share prices during the previous session.

London's benchmark FTSE 100 index slipped 0.7 percent to 6,161.47 points compared with the close on Monday.

Frankfurt's DAX 30 index dipped 0.2 percent to 9,943.84 points and the CAC 40 in Paris eased 0.1 percent to 4,335.89.

World stock markets had surged Monday, with Europe's leading indices advancing between 3.0 and 3.5 percent, on growing expectations that Britain would Thursday vote to remain part of the European Union.

Britain's pound was also steadier after soaring against the dollar on Monday. The findings of polls published Tuesday showed the referendum could still go either way.

Billionaire George Soros, who famously profited by betting against the pound in a 1992 currency crisis, meanwhile predicted a plunge in sterling should Britain vote to leave the 28-nation bloc.

Investors were looking ahead also to Federal Reserve boss Janet Yellen's Congressional testimony.

Yellen is scheduled to speak on monetary policy from Tuesday in a semiannual report to lawmakers, as markets try to gauge when the Fed will lift US interest rates again.

Copyright AFP (Agence France-Presse), 2016

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