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Monday, May 23, 2022

European shares steady at open

European shares steady at openLONDON: European stocks held steady in opening deals on Monday as investors mulled a poor session in Asia following hefty pre-weekend losses on Wall Street.

London’s benchmark FTSE 100 index of top blue-chip companies added just 0.05 percent to 6,583.04 points, while Frankfurt’s DAX 30 dropped 0.53 percent to 11,287.77 points and the CAC 40 in Paris slid 0.52 percent to 5,030.89 compared with Friday’s closing levels.

Asian markets mostly retreated Monday following a fourth successive sell-off in New York before the weekend, while investors await the US Federal Reserve’s next policy meeting looking for a handle on its plans for interest rates.

US stocks sank deep in the red on Friday as weak Chinese factory data and US home sales numbers outweighed Amazon’s unexpected blockbuster swing into profit.

Copyright AFP (Agence France-Presse), 2015

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