European stocks open mixed after holiday break

(MENAFN- AFP) Europe's main stock markets opened mixed on Monday following the holiday break, with London gaining solidly and Frankfurt dipping.

London's benchmark FTSE 100 index added 0.62 percent to 6,650.85 points while Frankfurt's DAX 30 slipped 0.07 percent to 9,914.87 points.

The CAC 40 in Paris gained 0.14 percent to 4,301.66 compared with last Wednesday's closing level.

European stock markets had diverged in Christmas Eve trade after a global rally that was sparked by stellar economic growth figures from the United States.

Trading will be curtailed again this week owing to New Year celebrations.

"While it is a short trading week for markets across the globe, there is still enough activity to keep traders busy," Stan Shamu, market strategist at IG trading group said on Monday.

"Focus now shifts to Europe where we have Greece's final attempt to elect a president."

The euro edged up on Monday as lawmakers in debt-laden Greece embark on a final bid to elect a new president and avoid a snap election that could undermine its international bailout.

The definitive round of voting later Monday to choose a successor to President Karolos Papoulias comes during last-ditch efforts by Prime Minister Antonis Samaras to get the government's candidate elected and avert early polls.

If no president is chosen, a general election will automatically be triggered.

European Union and International Monetary Fund officials fear an early poll would be won by the anti-austerity, radical leftist Syriza party and could undo many of Greece's fiscal reforms.

But analysts said currency markets have largely factored in the success of a presidential vote, while upbeat US data has been supporting the dollar.