European stocks open slightly in the red- DAX waits on IFO index at 8am GMT

The European stock markets have just kicked off the new session. Yesterday the FTSE 100 was the worst performer amongst the three majors and there is a good reason for that- the slide in Oil prices yesterday afternoon. That said, the FTSE 100 still put on 0.90%, but trailed in the wake of the gains seen in the DAX and the CAC 40. The DAX rose 3.14% and the CAC put on 2.13%. The DAX is just now reopening slightly lower and there is a data release due at 8am GMT which could impact the price action this morning. That is the latest German IFO business climate index. This is expected to come in lower, but the consensus is not for a significant drop, which is a little surprising given all the latest tariff news. Perhaps that is being offset by the huge amount of government spending now released and due to come on long in the months ahead. So, we shall see how this release emerges and what impact it has in around an hour from now. The DAX closed yesterday at 21,961. It is just now trading at 21,910