European stocks waver ahead of FOMC minutes

The European stocks fluctuated between gains and losses so far in the mid-European trades, as investors remain unimpressed by upbeat macro updates from the Eurozone and UK.

The Eurozone services PMI readings came in upbeat, while the CPI figures also better expectations, arriving at 1.1% y/y versus 1.0% exp. While the UK construction PMI data also showed solid improvement, rising to 54.2 vs. 52.8 forecast.

The European traders refrain from creating fresh positions ahead of the FOMC minutes due on the cards in the US session. While losses in the retail sector stocks outweigh gains on the banking stocks, thus, keeping the indices in a tight range near yearly tops.

Meanwhile Germany's DAX 30 index trades -0.12% lower at 11,570 levels, while the UK’s FTSE 100 index trades muted around 7,175. Among other indices, the French CAC 40 index is seen flat at 4,900 mark. The pan-European Euro Stoxx 50 index rises +0.07% to 3,320 points.