European stocks attempt gains, despite weaker oil prices

Dhwani Mehta FXStreet

The European equity markets had a negative start to the day, although quickly recovered ground and turned positive amid a rally in banking sector stocks across Europe, particularly in the Italian banks.

However, gains seem limited as the traders take a breather after witnessing a massive rebound in the European equities and another record-breaking day on Wall Street yesterday.

Also, renewed weakness in oil prices amid resurgent oversupply concerns and uncertainty over OPEC and non-OPEC producers’ output cut deal, weighed on the resource and energy stocks on the region’s indices.

Meanwhile, Germany's DAX 30 index rises +0.13% to 10,700 levels, while the UK's FTSE 100 index trades modestly flat around 6,740. Among the other indices, the French CAC 40 index advances +0.18% to 4,582 while the pan-European Euro Stoxx 50 index edges +0.38% higher at 3,065 points.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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