European indices down as oil drops
Major indices in Europe traded lower on Wednesday as oil prices fell, reversing the upward trend from the previous day.
London’s FTSE 100 was down 0.51% to 6,282 points (1:22 p.m. CET). Earlier in the day, the Nationwide housing prices increased 4.5% in December compared to the same period a year ago. This represented a rise from November’s 3.7%, marking the biggest monthly growth since April. U.K. house prices are expected to grow up to 6% over the next year.
The DAX declined 0.88% to 10,765 points with all but two stocks trading in green, RWE and K+S, which rose 0.86% and 0.11% respectively (all 1:20 p.m. CET). The CAC 40 lost 0.34% to 4,685 points (1:23 p.m. CET).
Oil dropped more than 1%. Brent crude for January delivery fell 1.16% to $37.39 a barrel and WTI oil for January delivery lost 1.36% to $36.86 a barrel (both 1:27 p.m. CET).
