European equities drop at open

October 12, 2021: European stocks opened lower Tuesday, mirroring Asian indices as investors fretted over spiking inflation, signs of economic weakness, an end to central bank support and a global energy crisis.

In initial trade, London's benchmark FTSE 100 index dropped 0.8 percent to 7,090.14 points, compared with Monday's close.

In the eurozone, the Paris CAC 40 shed 0.8 percent to 6,520.70 points and Frankfurt's DAX lost 0.7 percent to 15,098.73.

World markets have come under pressure in recent weeks as the reopening of economies and supply chain snarls ramp up inflation, with a rally in commodity prices a major factor.

All eyes are on the release this week of inflation data in the United States and China, with expectations for multi-high readings that will add pressure to central banks to tighten monetary policy.

AFP/APP

Posted on: 2021-10-12T13:05:48+05:00

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