European stocks wobble at open as election day arrives

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LONDON: Europe’s main stock markets wobbled in cautious opening deals on Tuesday as election day finally arrives in the United States.

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In initial deals, London’s benchmark FTSE 100 index rose by just 0.1 percent to stand at 6,815.18 points.

In the eurozone however, Frankfurt’s DAX 30 shed almost 0.1 percent to 10,449.52 points and the Paris CAC 40 index slipped nearly 0.2 percent to 4,454.58 compared with Monday’s close.

Most Asian markets extended gains on hopes Hillary Clinton will beat Donald Trump to win Tuesday’s presidential election but traders are cautious with many opinion polls saying the race is too close to call.

“Cautious investors adopt a wait-and-see policy as Election Day finally arrives in the United States,” said Andy McLevey, head of dealing at online stockbroker Interactive Investor.

“Having had their fingers burnt in the aftermath of the UK EU referendum, it is of little surprise many have paused for breath as despite polls signalling a Hillary Clinton victory seems likely it is still too close to call and we may see some jitters as the day progresses.”

Global equities had surged Monday after the FBI said it would not pursue criminal charges against Clinton over her use of a private email server while secretary of state, dealing a blow to rival Donald Trump.

“The presidential race is much closer than anyone had expected and polls have shown a tightening both nationally and in swing states over the past two weeks,” noted economist Andreas Johnson at Swedish banking group SEB.

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