European stock: Europe stocks open mixed; London slips before budget

European stock markets opened mixed Thursday after subdued Asian trade, with London sliding before a crucial austerity budget.

The British capital’s FTSE 100 index fell 0.2 percent to 7,338.89 points, as finance minister Jeremy Hunt readied a budget that will hike taxes and slash spending.

In the eurozone, the Paris CAC 40 index rose 0.3 percent to 6,628.28 points and Frankfurt’s DAX won 0.9 percent to 14,360.48.

Hunt’s budget comes a day after figures showed UK inflation spiked to 11.1 percent in October, the highest since 1981, as Britain is hammered by a cost-of-living crisis.