International News

European markets mainly dip at open

LONDON, May 31: European equity markets mostly dropped at the open on Tuesday, as a global stocks rally faltered on stubborn inflation fears, dealers said.
Frankfurt’s benchmark DAX shares index dipped 0.7 percent to 14,476.02 points and the Paris CAC 40 shed 0.6 percent to 6,526.10 as data showed the French economy shrank in the first quarter.
On the upside, London’s FTSE 100 index gained just 0.1 percent to 7,608.54 points, compared with the closing level on Monday.
Asian markets fluctuated Tuesday with inflation continuing to niggle owing to a pick-up in oil prices, while a top Federal Reserve official pressed for a series of sharp interest rate hikes.