European Markets Brush Off Rising Oil Prices

European stock markets opened on a positive note yesterday, despite another rise in oil prices. The Eurozone's key indexes were all in the green, with the UKX index up 0.40%. This growth was largely driven by the surge in UK homebuilders, who benefited from expectations surrounding the revival of the Help to Buy scheme.

The news sparked a slight weakening of the sterling against the US dollar, which dropped to around $1.32 - its lowest level in three months. However, this didn't seem to affect the overall market sentiment, as investors appeared unfazed by the increase in oil prices.

Germany's DAX index also gained 0.23%, while France's CAC index rose by 0.34%. The EUR:USD exchange rate remained relatively stable throughout the day.