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EUROPE SHARES SEEN HIGHER AHEAD OF GDP DATA

European shares are set for a slightly higher open on Tuesday with investors looking ahead to revised growth data from a number of global economies.

The  FTSE is called to open higher by 35 points at 6,612, the German Dax is seen up by 34 points at 9,900 and the French CAC is seen higher by 15 points at 4,269.

Trading volumes are set to remain light this week due to the festive holidays that begin on Thursday. Europe’s stock markets close early – at around lunchtime — on Christmas Eve.

The major focus on Tuesday is set to be a slew of economic data. France will receive its final third-quarter figure for gross domestic product (GDP) at 7:45 a.m. London time along with consumer spending and producer price data. The U.K. will see its own GDP revision at 9:30 a.m. London time as well as current account numbers. European investors will also keep an eye on numbers due out for the U.S. with third-quarter GDP also due at 1.30 p.m. London time.

In Asia, stocks traded mixed on Tuesday, overlooking a strong session on Wall Street, as fears of a further slump in oil prices resurfaced. Brent crude oil prices edged up on Tuesday following a volatile session the day before that saw contracts jump over 2 percentage points, before falling back to not much more than $60 a barrel. U.S. WTI crude was up 56 cents at $55.82 a barrel.

In stocks news, oil firms BP, Royal Dutch Shell and Total will be in focus on Tuesday after ratings agency Standard & Poor’s warned on their credit ratings Monday.


 Varchev Traders


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