European stocks rebound at open

European stock markets rebounded at the open on Wednesday from a sharp drop the previous day on valuation concerns.

Investors nevertheless remain on edge after Treasury Secretary Janet Yellen hinted that US interest rates might need to be increased as government spending measures fan inflation and the economy surges.

In initial deals, London's benchmark FTSE 100 index rose almost 0.6% to 6 960.97 points compared with the closing level on Tuesday.

In the eurozone, the Paris CAC 40 index opened with a gain of 0.5% to 6 284.09 points and Frankfurt's DAX 30 rallied 0.9% to 14 985.05.