European stocks extend slide at open

LONDON, June 13 — European stock markets slid further at the start of trading today on rising fears that Britain could vote to leave the European Union in next week's referendum, traders said.

London's FTSE 100 index shed 0.6 per cent to 6,078.29 points.

In the eurozone, Frankfurt's DAX 30 index retreated 1.2 per cent to 9,715.78 points.

The CAC 40 in Paris lost also 1.2 per cent in value compared with Friday's close to open at 4,253.98.

Tokyo's main stocks index dived 3.5 per cent to a two-month low point by the close today, as worries over Britain's EU membership vote sparked a rally in the safe haven yen currency, which in turn hammered Japanese exporters including Toyota and factory robot maker Fanuc.

Markets are on edge also as the US, Japanese and British central banks meet this week, with investors worrying about global growth and the possible impact of Britain quitting the EU, as polls show that a Brexit is a real possibility.

Few expect any move on interest rates from the Federal Reserve and Bank of England in the coming days, but observers are divided over whether the Bank of Japan will announce more stimulus.

Equity markets around the world had already slumped Friday, with the biggest losses coming in Europe, on mounting unease over ineffective central bank growth policies and as investors seek safety also in government bonds ahead of the referendum. — AFP

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