Investing.com – European stock markets swung between small gains and losses on Tuesday, as investors shrugged off upbeat trade data from China, instead focusing on plunging oil prices.
During European morning trade, the EURO STOXX 50 dipped 0.15%, France’s CAC 40 shed 0.1%, while Germany’s DAX 30 tacked on 0.1%.
China reported a trade surplus of $49.6 billion in December, broadly in line with expectations. Exports jumped 9.7% in December, but imports rose by a smaller-than-forecast 2.4%, pointing to weak domestic demand.
Meanwhile, crude oil prices fell to almost six-year lows, pressured lower by concerns over a global supply glut.
The rout in oil prices has fuelled concerns of exacerbating already low levels of inflation in many major world economies, sending investors into safe haven assets.
Sentiment remained supported amid speculation that the European Central Bank will embark on full blown quantitative easing as soon as its next meeting on January 22.
Elsewhere, in London, the commodity-heavy FTSE 100 rose 0.25%, as investors looked ahead to key December inflation data due later in the session.
In the U.S., equity markets pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a 0.15% rise, SP 500 futures signaled a 0.15% gain, while the Nasdaq 100 futures indicated a 0.15% increase.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased to 92.17, off the 12-year peaks of 92.76 scaled last week.
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