European stock open lower

European stock markets lost ground on Tuesday, with French bank Credit Agricole and German carmaker BMW among the worst performers after reporting results, while weak oil prices also weighed on energy stocks. The pan-European FTSEurofirst 300 index, which had risen 0.7 per cent on Monday, fell back by 0.5 per cent while the euro zone's blue-chip Euro STOXX 50 index also weakened by 0.6 per cent. The Athens stock market, which had slumped 16 per cent on Monday after re-opening following a five-week shutdown, fell a further 4 per cent on Tuesday as the country grapples with debt and economic problems. Falls in Credit Agricole and BMW contributed to the French and German markets slipping back on Tuesday. Credit Agricole slumped 8 per cent. BMW also fell 2.7 per cent. German airline Lufthansa declined 3.5 per cent, according to Reuters.

-SRS