BUSINESS European stocks mixed at open

BUSINESS

European stocks mixed at open

AFP

15:48, October 12, 2020

Europe's top stock markets were mixed at the start of trading on Monday, with London losing ground before fresh coronavirus restrictions are announced while Frankfurt and Paris shifted higher.

File photo: AFP

London's benchmark FTSE 100 index of major blue-chip companies dropped 0.2 percent to 6,004.72 points.

In the eurozone however, Frankfurt's DAX 30 index advanced 0.2 percent to 13,082.71 points and the Paris CAC 40 also climbed 0.2 percent to 4,955.32.

"European bourses are heading out of the blocks in a mixed fashion," noted City Index analyst Fiona Cincotta.

"Rising Covid-19 cases, both in the UK and on the continent, plus Brexit concerns coming to a head, could keep the lid on any upwards movement -- and is keeping the FTSE in the red."

British Prime Minister Boris Johnson is set to present a new three-tiered alert system for coronavirus cases in England on Monday, with northwestern Liverpool expected to be placed in the top category.

Like governments throughout Europe, Johnson's conservative administration is seeking to balance bringing down the rate of new infections against concern about the economy and frustration among voters.

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