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Market Update

European Markets Quiet on Christmas Eve

European markets were slightly up on thin volumes Tuesday in a shortened session ahead of the Christmas day holiday.

The FTSE was up 0.4%. The CAC 40 Paris edged up 0.2% while the German DAX was shut.

Elsewhere, Switzerland and Italy were also closed for the Christmas break. The FTSE is due to close at 1230 GMT.

Data earlier showed French consumer spending rose more than expected in November by 1.4%, easily beating expectations for a 0.4% gain. Also, consumer spending in October was revised down to 0.1% from a previously reported drop of 0.2%.

Stocks on the Move

Tullow Oil PLC slipped 0.9%. The company said a well it drilled off the coast of Norway didn’t result in an oil or gas find.

French insurer AXA SA was up half a percent after the company said it agreed to sell its life and savings operations in Hungary.

Constructions and concessions group Eiffage SA was up 0.4% after it too finalized the divestiture of two public-private partnership, or PPP investment projects of hospitals for 272 million euros.