London's FTSE 100 rises at open

AFP
The benchmark FTSE 100 index was down 0.12 percent at 6,302.57 points in opening deals Monday
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The benchmark FTSE 100 index was down 0.12 percent at 6,302.57 points in opening deals Monday (AFP Photo/Leon Neal)

London (AFP) - London equities rose at the start of trading on Tuesday despite an easing of key global markets in Asia and on Wall Street.

The benchmark FTSE 100 was index up 0.08 percent at 6,828.84 points compared with Monday's close.

Asian markets were mixed on Tuesday after Wall Street retreated from record highs and US analysts warned that a recent equities rally could see a sharp reverse.

Tokyo eased 0.42 percent, or 65.03 points, to finish at 15,314.41 while Shanghai added 0.20 percent, or 4.09 points, to 2,064.02.

After a long Independence Day weekend US shares returned on Monday for the first time since Thursday's better-than-expected jobs report.

However, they ended in the red on profit-taking while there were warnings that global markets could be headed for further losses after enjoying a positive run-up in the past few weeks, which has seen the Dow and S&P 500 touch new records.

Nobel prizewinning economist Joseph Stiglitz said in a television interview he was "very uncomfortable" with current stock prices, while Raymond James managing director Jeffrey Saut said in a note that stocks are vulnerable to a 10-12 percent decline in the weeks ahead.

The Dow slipped 0.26 percent after breaking 17,000 for the first time on Thursday, while the S&P 500 eased 0.39 percent. The Nasdaq declined 0.77 percent.

Elsewhere, Frankfurt's DAX 30 climbed 0.12 percent to 9,918.27 points and the CAC 40 in Paris won 0.28 percent to 4,418.17.

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