Market Update

European Stocks Fall at Open

Apr 18, 2011

Shares in Europe opened lower Monday, following weakness in Asian markets, even as fiscal concerns in the region came to the fore once again.

At 12:45 p.m. (I.S.T.), Britain's FTSE, France's CAC and Germany's DAX were trading 0.2% lower each.

Financials were hit hard across the region amid news reports suggested European officials were considering extending the debt repayment period for Greece for about $490 billion of loans: Barclays, BNP Paribas, Credit Agricole and Societe Generale lost 1.1% to 1.7%.

Miners were trading with a negative bias but close to the flat line as metal prices fell in the commodities market.

In news-driven stocks, ArcelorMittal rose 1% after Goldman Sachs upgraded the steel company's rating to 'buy'.

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