European stocks keep the red post UK CPI, ZEW – next in focus

FXStreet (Mumbai) – Most stocks on the European indices halted their downslide and erased partial losses, with the French stocks now turning into the positive territory.

European markets cheer UK CPI

The UK’s benchmark, the FTSE 100, trimmed losses after the UK CPI data release which printed in line with estimates, easing concerns of the UK economy falling back into deflation.

Consumer-price inflation in the UK showed no growth in August year-on-year, after the 0.1% rate previously, with prices dragged lower by falling oil prices. The rate of core inflation in Britain slowed to 1% in August, down from 1.2% in July.

Germany’s DAX 30 index pared losses and now trades-0.29% lower at 10,099, while the UK’s FTSE 100 index drops -0.90% to 6,030. Among the other indices, the French CAC 40 index trades muted at 4,520, while the pan-European Euro Stoxx 50 index loses -0.21% to 3,170.

Markets now shift their attention towards the September ZEW economic sentiment report from Germany, which is expected to unveil a slowdown in activity to 18.3 points, after August’s 25. The Current Situation Index is likely to slide to 64 points this month from 65.7 before.

Most stocks on the European indices halted their downslide and erased partial losses, with the French stocks now turning into the positive territory.

(Market News Provided by FXstreet)

By FXOpen