Europe close: Stocks slip but markets higher year-to-date

European equities ended 2015 in the red but higher for the year overall, with German markets closed and volumes thin.

The benchmark Stoxx Europe 600 index fell 0.2% while France’s CAC 40 slipped 0.6%.

Still, for the year, European equities were on the front, with the CAC up 9% year-to-date and the DAX up nearly 10%.

“It’s a quiet quiet session in the European markets, as expected,” said Atif Latif, director of trading at Guardian Stockbrokers.

“With concerns on China overplayed and miners /commodities having a terrible year, we see more central bank stimulus and expectations being the catalyst for higher equity markets.”

Latif said he sees upside potential in European equity markets next year led by a rebound in banks and commodity-related shares.

Admiral Markets’ Darren Sinden said: “A relatively flat finish to the European trading year however when we look back to the turmoil of the summer and the solid recovery that many European bourses have made since then, I think investors should feel relatively happy as we enter the New Year .”

In commodity markets, oil prices steadied following more heavy falls in the previous session, with West Texas Intermediate up 0.4% at $36.76 a barrel and Brent crude up 0.6% at $36.67.

Oil prices tanked on Tuesday after the US Energy Information Administration reported a 2.6m barrel expansion in domestic crude stockpiles on the back of higher imports and production. Analysts had been expecting the EIA to report a drop in stockpiles.

Corporate news was thin on the ground.

In London, Sports Direct International nudged lower after the company said it would pay its directly employed staff and casual workers above the National Minimum Wage from 1 January 2016.

The retailer came under fire recently following a damning newspaper report about the way it treats staff at its warehouses.

Vodafone was higher, however, on renewed speculation the company is in talks about a merger with US cable company Liberty Global.

BP was in focus after the oil giant ordered the evacuation of the Valhall oilfield in the North Sea due to an unmanned barge drifting towards a drilling platform.