European stock markets mid-session: Indices add gains
European stocks added gains on Thursday continuing the recent rally although markets remain cautious about the Greek debt deal. The IMF and the ECB warned that the reform plans are not detailed enough and Athens will have to take further steps to ensure further bailout releases.
Data from Eurozone's biggest economy was better-than-expected. The German Gfk Consumer Confidence Survey index rose to 9.7 from 9.3 in January, slightly better than the forecasts of 9.6.
Today the Federal Labor Agency in Nürnberg reported that the number of unemployed people sank twice the forecasted amount. Economists predicted a drop of 10,000 but data showed it declined by seasonally adjusted 20,000 to 2.8 million - a proof that Eurozone's biggest economy is growing. The Unemployment Rate remained unchanged at 6.5%, in line with forecasts and at a record low.
The U.K. economy grew as expected by +0.5% in the fourth quarter of 2014, compared to +0.7% in the previous quarter. The figure was unrevised from the Office for National Statistics original estimate. Year on year the economy expanded +2.7%, also in line with expectations. The data underlined the optimism about the country's economy.
Business Investment in the U.K. fell at the fastest pace in almost six years by -1.4%, far below estimates of an increase of +2.3% and below a revised previous reading of -1.2% (revised from -1.4%). Lower oil prices led to declining investments in the energy sector. Year on year Business Investment rose less at a pace of +2.3% compared to revised +6.3% (+2.7%).
Eurozone's adjusted M3 Money Supply for January rose +4.1%, above forecasts of an increase of +3.8%. Private Loans declined less than predicted by -0.1% in January.
The FTSE 100 index is currently trading +0.04% quoted at 6,938.45. Germany's DAX 30 added +0.28% trading at 11,241.34, a new all-time high. France's CAC 40 is currently trading at 4,898.56 points, +0.33%.
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