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- European stock markets First hour: Indices open steady to higher – focus on Greece and German/French data
European stock markets First hour: Indices open steady to higher – focus on Greece and German/French data
European stocks open steady to higher on Tuesday. Stalling negotiations between Greece and the E.U. weigh on the markets as the country is struggling to unlock more bailout funds.
Data on German Retail Sales (real adjusted) came in at -0.5%, declining less than the estimated -0.9%. The January reading was revised from 2.9% to 2.3%. Retail Sales (real unadjusted) declined year on year from revised 5.0% to 3.6%, growing at a slower pace than the predicted 3.7%.
French Consumer Spending rose less than expected in February. Data came in at 0.1% compared to forecasts of 0.3% and a previous reading of 0.7%. Year on year consumer spending rose from 2.6% to 3.0%.
Data from Germany, Eurozone's biggest economy, on the Unemployment Change showed a decline by -14,000 in March. Analysts expected a decline by -10,000. The Unemployment Rate came in lower-than expected at 6.4% compared to estimates and a previous reading of 6.5%.
The commodity heavy FTSE 100 index is currently trading +0.11% quoted at 6,898.93 points. Germany's DAX 30 is trading at 12,068.73 points -0.14%. The DAX has risen almost 23% in the first quarter - the most in a quarter since 2003. France's CAC 40 is currently trading at 5,087.65 points, +0.08%.
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