ROME: Europe’s stock markets have firmed at the start of trading as many markets including London and Frankfurt reopen after a long holiday weekend.
London’s benchmark FTSE 100 index added 0.01 per cent to 7,032.54 points on Tuesday and Frankfurt’s DAX 30 won 0.22 per cent to 11,841.48 compared with Friday’s closing levels.
In Paris, the CAC 40 in Paris gained 0.11 per cent to 5,122.87 compared with the close on Monday, when the market was open and finished 0.50 per cent lower.
“After its gradual progress last week, the FTSE returned from its bank holiday weekend looking a bit sleepy as it opened flat this Tuesday,” noted Spreadex trader Connor Campbell.
“The FTSE will likely have to contend with the ongoing Greek situation in the eurozone, something that always seems to dominate on the days of little data.”
In foreign exchange, the euro was weighed down by growing concerns about Greece’s bailout talks as a repayment deadline looms, while the US dollar powered to a fresh eight-year high against the yen.
The US currency has also been underpinned by expectations the Federal Reserve will raise interest rates in the coming months – a view supported by comments from Fed chief Janet Yellen who said on Friday she expects a hike “at some point this year”.
