Europe: Stocks open lower after losses in Asia, US

Europe's major stock markets dropped in opening deals on Thursday, after losses in Asia and the US, as investors took profits amid fading US stimulus hopes, mixed bank earnings and ongoing coronavirus woes.[LONDON] Europe's major stock markets dropped in opening deals on Thursday, after losses in Asia and the US, as investors took profits amid fading US stimulus hopes, mixed bank earnings and ongoing coronavirus woes.

In initial trade, London's benchmark FTSE 100 index of leading blue-chip companies sank 1.5 per cent to 5,847.59 points. In the eurozone, Frankfurt's DAX 30 index shed 1.6 per cent to 12,824.50 points and the Paris CAC 40 lost 1.4 per cent to 4,874.21. Asia was weighed down Thursday by concerns about the reimposition of virus lockdowns, stalled vaccine and treatment trials - and dimming hopes of new US stimulus any time soon.

"With stimulus hopes fading fast and a mixed set of performances from the US banks, markets succumbed to a bout of profit-taking," said analyst Richard Hunter at online broker Interactive Investor.

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