European stocks slip at open after massive surge
Business
London's FTSE 100 index and the Paris CAC 40 each dropped 0.4 percent
LONDON (AFP) - European stock markets dipped Thursday at the open after surging the previous day as investors had seized on sliding oil prices and a glimmer of hope for Russia-Ukraine peace talks.
London’s FTSE 100 index and the Paris CAC 40 each dropped 0.4 percent, while Frankfurt’s DAX shed 0.5 percent in value.
Frankfurt and Paris had soared by more than seven percent on Wednesday while London won 3.3 percent.
"Markets rallied strongly (on Wednesday) as the oil price weakened and as sentiment received an overdue boost, following hopes of some progress in diplomatic talks between Russia and Ukraine," said Interactive Investor analyst Richard Hunter.
He added: "The FTSE 100 paused for breath at the open (on Thursday) despite the strength of the showings from across the pond and to some extent a continuation of the relief in Asian markets."
Asian equities rallied Thursday following a strong bounce on Wall Street and Wednesday’s breathtaking surge in Europe, sparked also by bargain-buying after a Ukraine-fuelled rout.
