European stock markets open lower

European stock markets started the day with declines, with the exception of the UK.

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Following the opening of European stock markets, the Stoxx Europe 600 benchmark index is trading down 0.3 percent at 486.1 points, while Germany's DAX 40 index is down 0.3 percent at 16,486 points.

In the UK, the FTSE 100 index is up 0.1 percent at 7,583 points, Italy's MIB 30 index is down 0.2 percent at 31,389 points, Spain's IBEX 35 index is down 0.2 percent at 9,968 points, and France's CAC 40 index is down 0.1 percent at 7,680 points.

The euro/dollar parity is currently trading at 1.0770, 0.1 percent below its previous close.

Analysts stated that global equity markets are following a mixed trend as stock and sector-based volatility increases during the busy earnings season, noting that all eyes are now on the intense data agenda, particularly the inflation data to be released in the US.

While signals from the ZEW expectation indices to be released in Europe today are also significant, pricing suggesting that the European Central Bank (ECB) could begin interest rate cuts in June remains strong.

On the other hand, according to data released today, the unemployment rate in the UK for December came in at 3.8 percent, below expectations.

News Source: 12punto