European stocks slip at the open

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Europe's main stock markets slid at the start of trading on Friday as investors grew concerned about the prospect of US tax cuts being enacted.

In initial trade, London's benchmark FTSE 100 index was down 0.1 percent at 7,438.30 points.

Elsewhere, Frankfurt's DAX 30 shed 0.3 percent to 13,025.02 points and the Paris CAC 40 dropped 0.4 percent to 5,3337.13 compared with the closing level on Thursday.

"Investors appear to be suffering from a deficit of enthusiasm as we continue to wind down towards the end of the year," said Michael Hewson at CMC Markets UK before the opening of trading in Europe.

After central banks failed to provide any positive surprises on rates or the monetary outlook in their meetings earlier this week, "the focus instead appears to be shifting to the possibility that the highly-anticipated tax plan currently being drafted in the US may be on the point of starting to unravel a little," he said.

A prominent US senator has warned he could oppose the final version of the legislation, raising concerns the Republicans may not have enough support to pass the massive cut.


© 2017 AFP

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