European stock markets drop at open

LONDON: European stocks retreated at the open Monday following heavy losses in Asia and pre-weekend falls on Wall Street as traders expect fewer cuts to US interest rates than previously thought.

It follows publication Friday of stronger-than-expected US jobs data.

European stock markets steady before US jobs data

At the start of trading, London’s FTSE 100 index shed 0.2 percent to 7,648.36 points.

In the eurozone, the Paris CAC 40 index dropped 0.4 percent to 7,996.48 points and Frankfurt’s DAX lost 0.6 percent to 17,702.60.