LONDON, March 21 European shares dipped at the
open on Thursday, with investors remaining jittery over Cyprus's
debt crisis, which outweighed a pick-up in Chinese factory
activity and a commitment by the U.S. Federal Reserve towards
its stimulus programme.
The FTSEurofirst 300 was 0.1 percent lower at
1,197.18 by 0808 GMT.
Cyprus's crisis still preyed on investors' minds, with the
island's government endeavouring to avert a financial meltdown
and ordering banks to stay shut until next week, after the
debt-stricken country rejected the terms of a European Union
Strong macro data from China, showing a pick-up in growth in
the country's vast manufacturing sector, and a statement from
the Fed, which said it would stick to its $85 billion monthly
bond-buying stimulus, helped keep a check on losses.
"I think (Cyprus) is very much just a stumbling block and
nothing else. I really don't think it's going to stop the market
and I don't see a big sell-off on the back of it at all," said
Terry Torrison, managing director at Monaco-based McLaren
"Personally I think things like China are much more