European stocks rebound in opening trades

By FXStreet FXStreet (Mumbai) – The European stocks snaps previous losses and rebounds higher on Tuesday, although lacks follow-through on the back of persisting seen in the Chinese stock markets.

Moreover, markets remain cautious ahead of a slew of macro releases from the region while mixed corporate news also keeps gains in check. Calendar-wise, the UK construction PMI is expected to stay well in expansion at 56.0, and better than the previous 55.3 result. While the euro zone inflation is expected to register a 0.4% gain y/y, as compared to a 0.1% annual level booked in Nov.

On the corporate news front, German carmaker Volkswagen fell over 3% after the US authorities filed a civil suit against the company for installing illegal devices in its vehicles that cheated emission tests. While from the UK, shares of retailer Next plunged almost 5% after reporting disappointing sales figures for the Christmas period.

Germany’s DAX 30 index gains 0.38% to 10,326 and the UK’s FTSE rallies +0.73% to 6,138. Among other European indices, the French CAC 40 index rises 0.36% to 4,537, while the pan-European Euro Stoxx 50 index advances 0.47% to 3,175.
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Source:: FX Street