FTSE-100: -0.18%
Dax-30: -0.48%
Cac-40: 0.03%
FTSE Mibtel 30: 0.33%
Ibex 35: 0.40%
Stoxx 600: 0.13%

European equities were little changed by the close as traders awaited the year's first update from the European Central Bank (ECB).

The ECB will hold its monetary policy meeting and news conference Thursday as the Eurozone continues to tackle its debt crisis.

Germany's DAX Index experienced the biggest fall in European markets following weaker than forecast export data this morning.

German exports fell 3.4% from October, the steepest decline in more than a year, the Federal Statistics Office in Wiesbaden said.

On a more positive note France's trade deficit improved to -€4.33bn in November, following a reading of -€4.71bn in the previous month (Consensus: -€4.8bn).

Ireland raises €2.5bn in bond sale

Ireland showed signs of economic rehabilitation after raising €2.5bn through a bond sale.

The National Treasury Management Agency increased the size of its existing 2017 bond through a 'syndicated tap' of the security, which attracted €7bn of orders, the Financial Times reported.

The funds raised by the debt office should help the country in its recovery following Dublin's Eurozone bailout more than two years ago.

Debenhams falls after trading update

Debenhams fell 7.6% to 108.8p, the biggest drop since May 4th despite record Christmas sales reported in the department store chain's trading update. Like-for-like sales in the five weeks to January 5th jumped 5% but at the cost of some profit as stores slashed prices to lure consumers.

Vodafone rose 2% to 162.85 pence after Verizon Communications Chief Executive Officer Lowell McAdam said it was 'feasible' to buy out the company's stake in their joint wireless venture, The Wall Street Journal reported.

Nautilus Minerals shares rocketed 60% on Tuesday after the business was granted a mining lease for the Solwara 1 prospect in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver.

Royal KPN increased 1.3% to €3.99 after Macquarie Group raised its recommendation on the largest Dutch phone company to outperform from underperform.

The board of Generali, Italy's biggest insurer, will discuss buying the 49% of a joint venture with Czech group PPF it does not already own, sources with knowledge of the situation told Reuters.

Slight drop in the single currency

The euro/dollar declined by 0.38% to the 1.3067 dollar mark.

Front month Brent crude futures were up by 0.385 dollars to the 111.830 level on the ICE.

RD

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