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    23.02.2016 11:02 European stock markets mid session: stocks traded lower on corporate earnings and as oil prices fell

    Stock indices traded lower on corporate earnings and as oil prices dropped again. Oil prices fell on concerns over the global oil oversupply.

    Meanwhile, market participants eyed the economic data from Germany. German Ifo Institute released its business confidence figures for Germany on Tuesday. German business confidence index declines to 105.7 in February from 107.3 in January, missing expectations for a fall to 106.7.

    "The majority of companies were pessimistic about their business outlook for the first time in over six months. Assessments of the current business situation, by contrast, were slightly better than last month. German businesses expressed growing concern, especially in manufacturing," Ifo President Hans-Werner Sinn said.

    The Ifo current conditions index increased to 112.9 from 112.5. Analysts had expected the index to decline to 112.0.

    The Ifo expectations index dropped to 98.8 from 102.3, missing expectations for a decrease to 101.6. January's figure was revised down from 102.4.

    Destatis released its final gross domestic product (GDP) growth for Germany on Tuesday. Germany's final GDP gained by 0.3% in the fourth quarter, in line with the preliminary reading, after a 0.3% increase in the third quarter.

    The increase was driven by domestic final consumption expenditure. Household consumption expenditure rose by 0.2% in the fourth quarter, while government spending increased by 1.0%.

    Exports of goods and services were down 0.6% in fourth quarter, while imports climbed 0.5%.

    On a yearly basis, Germany's final GDP rose to 2.1% in the fourth quarter from 1.8% in the third quarter, in line with the preliminary reading.

    In 2015 as whole, the economy expanded 1.7%, in line with the preliminary reading.

    Current figures:

    Name Price Change Change %

    FTSE 100 5,992.15 -45.58 -0.75 %

    DAX 9,485.24 -88.35 -0.92 %

    CAC 40 4,273.61 -25.09 -0.58 %


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