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FTSE opens flat despite Asian falls

European markets have been steady in early trades on Wednesday despite overnight losses in Asia.

At 9.44, the FTSE 100 was up 0.1 per cent to stand at 5,597.12 while in Europe the French Cac 40 and the German Dax were up 0.4 and 0.7 per cent respectively.

Continued worries in the eurozone coupled with poor US jobs data saw Asian markets lose ground overnight on Tuesday. Japanese stocks fell for a seventh straight day with the Nikkei 225 down 0.8 per cent. Hong Kong’s Hang Seng and Australia’s ASX 200 also dropped 1 per cent.

Markets across Europe recorded heavy losses in Tuesday, with the FTSE 100 falling over 2 per cent.

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