European stock markets mid session: stocks traded higher on the Fed’s interest rate hike

Stock indices traded higher on the Fed's interest rate hike. The Fed on Wednesday raised its interest rate to the range 0.25% - 0.50% from 0.00% - 0.25% as widely expected by analysts. All Federal Open Market Committee (FOMC) members voted for the interest rate hike. The Fed repeated that further interest rate hikes will be gradual.

Meanwhile, the economic data from Eurozone was negative. German Ifo Institute released its business confidence figures for Germany on Thursday. German business confidence index declines to 108.7 in December from 109.0 in November. Analysts had expected the index to remain unchanged at 109.0.

"The economic situation could hardly be better in the run-up to Christmas," Ifo President Hans-Werner Sinn said.

The Ifo current conditions index decreased to 112.8 from 113.4. Analysts had expected the index to remain unchanged at 113.4.

The Ifo expectations index remained unchanged at 104.7, missing expectations for a rise to 105.0.

The Office for National Statistics released its retail sales data for the U.K. on Thursday. Retail sales in the U.K. climbed 1.7% in November, exceeding expectations for a 0.5% rise, after a 0.5% decline in October. October's figure was revised up from a 0.6% decrease.

The increase was driven by retailers' promotions at the end of the month.

Food sales were up 0.8% in November, sales at department stores rose 4.3%, while household goods sales climbed 4.1%.

On a yearly basis, retail sales in the U.K. jumped 5.0% in November, beating forecasts of 3.0% increase, after a 4.2% rise in October. October's figure was revised up from a 3.8% gain.

Current figures:

Name Price Change Change %

FTSE 100 6,147.93 +86.74 +1.43 %

DAX 10,779 +309.74 +2.96 %

CAC 40 4,739.07 +114.40 +2.47 %