European stocks drop at open
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LONDON, Nov 21 AFP
November 21 2012, 7:22PM
Europe's main stock markets fell at the start of trading on Wednesday after eurozone finance chiefs failed to strike a deal to unlock the latest batch of crucial bailout cash for indebted Greece.
London's benchmark FTSE 100 index of top companies dropped 0.32 per cent to 5,729.79 points, Frankfurt's DAX 30 slid 0.34 per cent to 7,148.91 points and in Paris the CAC 40 lost 0.22 per cent to 3,454.36.
The Eurogroup ministers said in a statement at the end of the Brussels talks that no deal had been reached and they would meet Monday "for further technical work on some elements of the package." The talks ended in the small hours of Wednesday.
The news also sent the euro diving from recent highs against the yen, while it also lost almost one US cent from its intra-day peak against the dollar.