LONDON – Europe’s main stock markets steadied at the start of trading on yesterday following losses in Asia and after a disappointing finish to the week on Wall Street. London’s FTSE 100 index steadied at 7,933.29 points, as it eyes a fresh record-high above 8 000 points.
In the eurozone, the Paris CAC 40 index was flat at 8 152.93 points and Frankfurt’s DAX gained 0.1% to 18,233.43.
“The FTSE 100 is starting the week within sight of record highs, but is lacking fresh momentum in early trade,” noted Susannah Streeter, head of money and markets at Hargreaves Lansdown. “Optimism has been surging about the prospects for interest-rate cuts and brighter economic horizons ahead, despite some uncertainty lingering about stubborn inflation in the US.”
London’s FTSE is looking to break its record after global competitors hit all-time peaks in recent sessions.
Despite some recent strength, the London stock market has lagged Paris and Frankfurt since the start of the year.
Meanwhile, Hong Kong stocks turned negative yesterday, in line with losses across most of Asia, ahead of key US inflation data due at the end of the week.
The Hang Seng Index slipped 0.16%, or 25.83 points, to 16 473.64.
The Shanghai Composite Index fell 0.71%, or 21.73 points, to 3,026.31, while the Shenzhen Composite Index on China’s second exchange sank 1.86%, or 33.14 points, to 1,749.15.
– Nampa/AFP