European stocks climb at open; before British budget

 23 Nov 2016 - 11:35

European stocks climb at open; before British budget
British Chancellor of the Exchequer Philip Hammond is pictured sitting at his desk, with a copy of his Autumn Statement, in his office at 11 Downing Street in central London on Nov. 22, 2016. / AFP / POOL / Stefan Rousseau


London: European stock markets rose at the open Wednesday, with London's benchmark FTSE 100 index up 0.3 percent at 6,843.56 points before Britain's first budget since the Brexit referendum.

In the eurozone, Frankfurt's DAX 30 edged up 0.1 percent to 10,718.89 points compared with Tuesday's close, while the Paris CAC 40 gained 0.2 percent to 4,557.93.

All eyes will be on Britain's parliament from 1230 GMT where finance minister Philip Hammond delivers his so-called Autumn Statement against the backdrop of the country's looming exit from the European Union (EU). 

Analysts have said Hammond's hopes of easing years of austerity could be hampered by financial uncertainty surrounding Britain's Brexit strategy.