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28.01.2015 09:00

European Stocks. First hour: Indices continue rally after pause

European indices continue to rise after a pause with good corporate results boosting sentiment almost reversing previous losses. Recently markets were supported by the unprecedented economic stimulus program known as quantitative easing unveiled on the 22nd by the ECB. The influence of the outcome of the Greek elections on the markets was limited.

Data on Germany's Gfk Consumer Confidence Survey for December showed a reading above estimates with 9.3 points compared to 9.0 in the previous month. Analysts expected an increase to 9.1 points.

The FTSE 100 index is currently trading +0.24% quoted at 6,827.84 points. Germany's DAX 30 added +0.51% trading at 10,682.36, below its all-time high at 10,810.57 points hit on Tuesday. France's CAC 40 rose by +0.30%, currently trading at 4,638.19 points.

Today all eyes will be on the Federal Open Market Committee Statement following the FED's interest rate decision at 19:00 GMT - after European trading hours. The FOMC is expected to retain the "patient" approach to rise benchmark interest rates.

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