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28.01.2015 19:00

European stock markets mid-session: Indices turn slightly negative after positive start

European indices could not hold on to early gains and turn negative. Published corporate earnings were mixed. Greek shares slump following the victory of the left-wing anti-austerity party Syriza and are down 10% this week.

Earlier today data on Germany's Gfk Consumer Confidence Survey for December showed a reading above estimates with 9.3 points compared to 9.0 in the previous month. Analysts expected an increase to 9.1 points.

The FTSE 100 index is currently trading +0.05% quoted at 6,808.11 points. Germany's DAX 30 lost -0.05% trading at 10,623.75, below its all-time high at 10,810.57 hit on Tuesday. France's CAC 40 shed early gains, currently trading at 4,613.162 points, -0.23%.

Today all eyes will be on the Federal Open Market Committee Statement following the FED's interest rate decision at 19:00 GMT - after European trading hours. The FOMC is expected to retain the "patient" approach to rise benchmark interest rates. The wording of the FOMC statement will be closely watched to get further indications on when the FED is going to raise benchmark interest rates from near zero levels. It's the first statement after the SNB's move to scrap the exchange floor for the franc and after the ECB announced quantitative easing.

Market focus

  • Bundesbank: German growth to remain subdued at least in first half of 2019
  • EU will react swiftly if U.S. hits it with car tariffs - European Commission
  • Unemployment in the UK remained at 4%, as expected
  • Bank of Japan Governor Kuroda: BOJ policy does not have currency manipulation as its target
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