European stocks edge higher at open

Europe’s major stock markets edged ahead in opening deals on Wednesday, as dealers paused for breath after recent choppy trade.

London’s benchmark FTSE 100 index added 0.1 percent to 7,135.95 points, compared with Tuesday’s closing level.

In the eurozone, Frankfurt’s DAX 30 won just 0.05 percent to 15,913.92 points and the Paris CAC 40 gained 0.2 percent to 6,676.79.

London and Frankfurt both ended Tuesday modestly higher, boosted by news of an upgrade to German economic growth, but Paris slid.

Global markets had jumped Monday on bargain-hunting after last week’s retreat, with traders riding a wave of renewed optimism.

Stocks were battered last week by worries over the fast-spreading Delta variant, Afghanistan turmoil, China concerns, and expectations that the Federal Reserve will soon begin tapering financial support.

Focus is now on an upcoming speech by Federal Reserve boss Jerome Powell at a central bank symposium in Jackson Hole, Wyoming, with hopes for an idea about its plans for monetary policy with an eye on the Delta mutation’s possible impact on growth.


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