European stocks fall at open tracking German deadlock

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London, Sept 28 :European stock markets fell at the open Tuesday, as traders tracked high oil prices and the political impasse in Germany.

London’s benchmark FTSE 100 index dropped 0.1 percent to 7,054.34 points.

In the eurozone, Frankfurt’s DAX index lost 0.3 percent to 15,529.04 points and the Paris CAC 40 retreated 0.3 percent to 6,631.41.

Brent crude oil on Tuesday jumped above $80 per barrel for the first time in almost three years on expectations for surging demand and concerns about tight supplies as the world slowly emerges from the pandemic crisis.

Europe’s biggest economy Germany was meanwhile headed for weeks, if not months, of protracted coalition haggling following weekend elections.

Chancellor Angela Merkel’s conservatives have insisted on trying to form a government even after losing to the Social Democrats in a tight race.