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- European Stocks. First hour: European indices decline sharply
European Stocks. First hour: European indices decline sharply
European indices dropped in early trading. Weak German data from yesterday and falling oil prices weigh on the markets - energy stocks are under pressure. Data showed yesterday that German industrial production rose only 0.2% in October, while September's figure was revised down to 1.1% from 1.4% previously. Mario Draghi's remarks further weighed on European stocks. At last week's ECB meeting he said that the bank will not start quantitative easing right away. The FTSE 100 index is currently trading -1.06% lower quoted at 6,601.14 points, Germany's DAX 30 lost -0.87% at 9,928.14 and France's CAC 40 dropped -1.18%, currently trading at 4,323.95 points. France's trade balance improved in October to -4.6 from -4.7. Analyst's expected the balance to improve to -4.5. Markets await U.K's Industrial- and Manufacturing production and later in the session Eurozone's ECOFIN meetings.
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