DAX slumps at open, FTSE higher ahead of UK data

The European stocks witnessed a higher start today, although the German equities quickly shaved-off gains and fell deep in the red, while rest of Europe keeps the gains.

The pan European benchmark, Euro Stoxx 50 also trades with size-able losses, tracking heavy losses booked by their Asian counterparts. The European traders digest the latest Fed minutes released yesterday, and find for clues on the Fed rate hike timing this year.

While the London markets remain buoyed expectant of a rebound in the UK retail volumes, as oil-price recovery gets underway. The retail sales data is expected to rebound 0.1% m/m in July, while retail sales are expected to edge 3.9% higher y/y.

Besides, the Eurozone final CPI figures, followed by ECB monetary policy accounts will be also closely eyed for fresh take on the equities.

Meanwhile, Germany's DAX 30 index drops -1.30% to 10,537, while the UK's FTSE 100 index trades +0.20% higher at 6,872. Among the other indices, the French CAC 40 index rises 0.36% to 4,433, while the pan-European Euro Stoxx 50 index slumps -1.10% to 2,980.