European Equity Benchmarks Close Higher

The broad-based major European indices closed higher in Tuesday’s trading session, as rising financial stocks and energy-related equities buoyed the markets.

In economic news, Eurostat, the statistical office of the European Union, reported a surplus of EUR16.1 billion ($16.7 billion) in October in the EU28, compared with surpluses of EUR17.4 billion in the previous month, and EUR7.3 billion in the year-ago month.

The 12-month total current account for the period ending in October 2016 recorded a surplus of EUR175.9 billion, compared with EUR147.8 billion for the 12 months to October 2015.

In Germany, the index of producer prices for industrial products rose 0.1% in November, compared with the same month last year, according to the Federal Statistical Office (Destatis). It was the first positive annual rate of change since June 2013. In October, the annual rate of change all over had been minus 0.4%.

In November, energy prices decreased 1.7%, compared with November 2015. Prices of intermediate goods rose 0.4%, while non-durable consumer goods rose 1.5%. Prices of capital goods gained 0.6% and prices of durable consumer goods 1%. The overall index disregarding energy rose by 0.8% compared with November of the previous year, and 0.3% compared with the previous month.

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