European markets flat after renewed nuclear fears

Renewed fears over efforts to cool Japan’s nuclear reactors have lead to a sluggish start to the week for European markets.

Japanese engineers are struggling to gain control of the Fukushima Daiichi nuclear power plant as four of the six reactors are deemed too hazardous for work to be carried out.

The delay has stifled the performance of European markets as investors remain cautious, with the FTSE up 0.15% to 5,909, looking to build on its 2% gain last week.

Elsewhere in Europe, the French Cac was marginally down 0.04% to 3,971, with the German Dax slipping 0.13% to 6,937.

In Asia, the Nikkei fell 0.6% to 9,479, with a number of blue chip companies in the index posting disappointing earnings figures.

Meanwhile, on the currency front the euro weakened against the pound, down 0.19% to €1.1372 after the market responded negatively to German Chancellor Angela Merkel's conservative government losing a number of seats in the country's local elections on Friday.