PARIS: Eurozone stock markets diverged in opening deals on Monday after US Federal Reserve chief Jerome Powell declared last week that the central bank was ready to cut interest rates.

The Paris CAC 40 was up 0.2 percent at 7,589.50 points while the Frankfurt DAX was down 0.3 percent at 18,578.25 points.

The London FTSE 100 index was closed for a holiday.

European stocks rise at the open before Powell speech

Powell told an annual gathering of central bankers on Friday that “the time has come” for the Fed to start cutting interest rates, which had been raised to a 23-year high in efforts to combat inflation.