Investing.com – European stock markets closed higher on Tuesday on holiday-impacted lower trading volumes.
At 11:30 EST (16:30 GMT), the UK index was up 0.4%, and was up more than 0.1%, while it was closed.
Most European markets closed early Tuesday and remained closed Wednesday for Christmas.
The European Central Bank is scheduled to cut interest rates further in 2025
The DAX has outperformed the major indices so far in 2024, rising more than 18%, while the FTSE 100 is up just 5%, and political turmoil has seen the CAC 40 fall more than 3%.
The European Central Bank cut its key interest rate earlier this month for the fourth time this year and is likely to cut rates further as 2025 progresses.
European Central Bank President Christine Lagarde and Isabel Schnabel, the most influential policy hawks, have boosted market bets on more gradual cuts in euro zone borrowing costs as the economy falters and concerns about rising inflation fade.
“If the incoming data continues to confirm our baseline, the direction of travel is clear and we expect interest rates to be cut further,” Lagarde said in a speech in Vilnius.
Inflation in the euro zone reached 2.3% last month and the European Central Bank expects it to hold at its 2% target next year after hitting double digits in the wake of Russia's large-scale invasion of Ukraine in 2022.
The European Central Bank is scheduled to cut interest rates further in 2025
There wasn't much big corporate news on Tuesday, but housebuilder Vistry Group (LON:) revised its expected adjusted pre-tax profit for FY24 to around £250m, down from its previous guidance of £300m.
Additionally, healthcare company Kooth (LON:) was awarded a $1.45 million pilot contract with the state of New Jersey to provide mental health support to 50,000 students ages 13-18 through its Soluna platform.
Oil prices are steady in weak trading
Oil prices rose on Tuesday within a narrow range as traders looked past concerns about potential oversupply and weak demand in 2025.
At 11:30 EST, futures rose 1.4% to $73.3 per barrel, while WTI futures rose 1.6% to $70.4 per barrel.
