Major European stock indices trading flat

Markets in Europe traded with slight modifications after opening in the red zone.

The composite index Stoxx 600 rose 0.08 percent, with most sectors trading in negative territory. However, the UK FTSE index set a new intraday record, rising above 7,200.

UK service sector expanded at the fastest pace since July 2015, due to the high level of growth in new orders, data showed today. Purchasing Managers Index from Markit rose to 56.2 in December from 55.2 in November. The index remains above 50 for the fifth month in a row, indicating continuing recovery of growth after contracting in July related to the EU referendum. The index was is expected to drop to 54.7. The growth rate was also sharper than the 20-year long-term average.

The increase in new orders was the strongest since July 2015. Employment rose in a constant pace since November, at seven-month high, and the mood in relation to the 12-month outlook strengthened, despite ongoing uncertainty regarding Brexit and European elections. Price pressures remain elevated at the end of 2016. Purchasing prices rose the second fastest pace since April 2011. As a result, providers have raised their own costs at the fastest pace since April 2011.

Eurozone producer prices rose for the first time since mid-2013 in November, showed on Thursday Eurostat data. In November, producer prices unexpectedly rose 0.1 percent from a year earlier, after falling 0.4 percent in October. It was the first annual increase since June 2013, when prices rose by 0.2 percent. Economists had forecast a drop of 0.1 percent.

Shares of Persimmon increased by more than 5.5 percent. The company reported revenue of £ 3,14 billion ($ 3.86 billion), an increase of 8 percent for the full year.

Bellway, another UK developer, was also among the best performers, its market capitalization has increased by more than 3.5 percent.

Shares of insurance companies were among the outsiders after JP Morgan cut its estimates for several companies in the sector, including RSA Insurance Group, whose stock fell more than 2 percent.

Shares of Deutsche Bank rose 2 percent after the German lender agreed to pay $ 95 million to settle a lawsuit with the US government, accused the bank of tax evasion.

At the moment:

FTSE 7186.23 -3.51 -0.05%

DAX 11572.14 -12.17 -0.11%

CAC 4898.96 -0.44 -0.01%