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- European stock markets mid session: stocks traded higher, supported by higher oil prices
European stock markets mid session: stocks traded higher, supported by higher oil prices
Stock indices traded higher on a rise in oil prices. Oil prices increase on news that OPEC and non-OPEC members will meet on April 17 in Doha to discuss the stabilisation of the oil market.
Market participants are awaiting the release of the Fed's interest rate decision today. Analysts expect the Fed to keep its monetary policy unchanged.
Market participants also eyed the Eurozone's economic data. The Eurostat released its construction production data for the Eurozone on Wednesday. Construction production in the Eurozone climbed 3.6% in January, after a 0.7% decline in December.
Civil engineering output rose 1.7% in January, while production in the building sector was up 4.1%.
On a yearly basis, construction output jumped 6.0% in January, after a 0.4% gain in December. December's figure was revised up from a 0.4% drop.
Civil engineering output increased 1.4% year-on-year in January, while production in the building sector climbed 7.1% year-on-year.
The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate remained unchanged at 5.1% in the November to January quarter, in line with expectations.
The claimant count slid by 18,000 people in February, beating expectations for a fall by 9,100, after a decrease of 28,400 people in January. January's figure was revised down from a 14,800 decrease.
Average weekly earnings, excluding bonuses, climbed by 2.2% in the November to January quarter, after a 2.0% gain in the October to December quarter.
Average weekly earnings, including bonuses, rose by 2.1% in the November to January quarter, in exceeding expectations for a 2.0% gain, after a 1.9% increase in the October to December quarter.
The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.
Current figures:
Name Price Change Change %
FTSE 100 6,152.34 +12.37 +0.20 %
DAX 9,990.18 +56.33 +0.57 %
CAC 40 4,484 +11.37 +0.25 %
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