Europe close: Stocks gain as Eurozone consumer confidence improves

European stocks ended higher after a report showed Eurozone consumer confidence rose more than expected in December.

The index on consumer sentiment rose to -10.9 last month from -11.5 in November, beating the -11 forecast.

The report comes amid signs of improvement in the Eurozone economy, including positive data out of Germany last week.

On a negative note for markets, existing home prices fell by 6.1% in December, more than the 1.1% drop predicted by analysts. Sales rose 1.4% the previous month.

“The 6.1% month-on-month drop in existing home sales suggests less of a pick-up in residential housing activity in the fourth quarter than previously estimated,” said Barclays Research.

Brent crude futures fell 2.3% to $59.95 per barrel, according to ICE, erasing earlier gains. Saudi oil minister Ali Al-Naimi said at a conference in Abu Dhabi at the weekend that the sector will recover and fossil fuel will remain the main source of energy for decades to come.

Kingfisher, Delta

Home improvement retailer Kingfisher edged higher after agreeing to sell a controlling 70% stake in its B&Q China business to Wumei Holdings for £140m.

Delta Lloyd NV declined after saying the Dutch central bank ordered it to dismiss its chief financial officer by 2016.

Roche Holding AG jumped after one its drugs for treating cervical cancer was approved in Switzerland.

Daimler AG rallied after its chief financial officer said to Boersen-Zeitung that the German carmaker may raise its 2014 dividend.

The euro rose 0.19% to $1.2252.