Share

European stocks mainly weaker at open

London - Europe's main stock markets mostly headed south on Thursday after volatility caused by slowing Chinese growth concerns, a cloudy outlook for US interest rates, mixed eurozone data and the Volkswagen scandal.

London's benchmark FTSE 100 index fell 0.31% to 6 013.31 points compared with Wednesday's close.

In the eurozone, Frankfurt's DAX 30 slipped 0.13% to 9 599.91 points while the Paris CAC 40 edged up 0.04% to 4 434.70.

Europe's main stock markets closed higher Wednesday, recovering some of the previous session's sharp losses.

Asians indices mostly recovered Thursday after sharp losses a day earlier but Tokyo tumbled as investors returned from a long weekend.

Japanese dealers returned to the trading floor for the first time since Friday to catch up with hefty losses in global markets.

"Undoubtedly, uncertainties over the direction of US monetary policy in the wake of the Fed meeting last week have impacted Japanese markets, as well as the VW-induced selloff of auto market-related stocks," said Angus Nicholson, a market analyst with IG trading group.

Automakers and suppliers helped to drag Tokyo's Nikkei stock index down by almost three percent, hit by concerns about the fallout from the Volkswagen emissions scandal while a strong yen also weighed.

Shares in Volkswagen opened 4.6 percent higher on the Frankfurt stock exchange Thursday, a day after the German auto giant's chief executive resigned in the wake of the massive pollution scandal.

VW shares opened at 116.60 euros after already bouncing back strongly the day before as investors snapped up cheap bargains following the meltdown in the share price earlier this week as the extent of the scandal became apparent.

Chief executive Martin Winterkorn stepped down on Wednesday, taking responsibility for one of the biggest scandals ever in the German auto sector.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.93
-0.2%
Rand - Pound
23.90
-0.0%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.1%
Platinum
907.85
+1.2%
Palladium
1,012.25
+1.1%
Gold
2,218.87
+1.1%
Silver
24.85
+0.8%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders