European Shares Edge Higher Before Christmas Break

(RTTNews) - European stocks rose on Tuesday, extending four days of gains, although trading remained thin ahead of the Christmas break. Several European markets such as Germany, Denmark, Norway, Switzerland and Italy are fully closed.

France's CAC 40 gained 0.3 percent, while the U.K.'s FTSE 100 added 0.4 percent. Storms across Britain and France kept gains in check.

On the economic front, French consumer spending grew 1.4 percent in November from the previous month, reversing the 0.1 percent fall logged in October, and exceeding the expectations for a 0.4 percent rise, data from the statistical office Insee showed. This was the biggest increase since February 2012, when household expenditure on goods rose 2.8 percent.

Another report showed that the French economy shrank 0.1 percent quarter-over-quarter in the third quarter, confirming the preliminary estimates.

The Asian markets rose broadly after strong data on U.S. consumer sentiment and personal spending brightened U.S. economic outlook. China's central bank moved to ease cash crunch fears, further bolstering investor confidence.

Trading in the U.S. index futures indicate a flat start ahead of data on durable goods orders and new home sales slated for release later in the day. The U.S. markets will have an abbreviated session before the Christmas holiday on Wednesday.