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- European stock markets mid-session: European indices gain on retailers as oil continues to slump
European stock markets mid-session: European indices gain on retailers as oil continues to slump
European indices added in today's trading continuing to rise for a second day supported by retail stocks as low oil prices could spur consumer spending. The energy sector scored losses as oil is trading near six-year lows continuing its slump. Brent dropped below USD45 in today's trading. U.K.'s consumer prices slowed to 0.5% in December, below estimates of 0.7%, falling under 1% with the lowest reading since May 2000.
Investors are looking forward to the European Central Bank policy meeting taking place on January 22nd and the Greek elections on January 25th where the anti-austerity party Syriza, that wants to renegotiate debt, is leading polls. As the Eurozone faces the risk of deflation the possibility of the ECB to buy government bonds is growing. Low oil prices further spur the speculations that the ECB will have to act rather sooner than later.
In today's session the FTSE 100 index added +0.59% quoted at 6,539.94 adding to its early gains. France's CAC 40 gained +0.94% trading at 4,268.10 after a negative start. Germany's DAX 30 is currently trading +1.06% at 9,885.92.
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