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    07.10.2015 16:00 European stocks close: stocks closed higher, supported by higher oil prices

    Stock indices closed higher, supported by higher oil prices.

    Meanwhile, the economic data from the Eurozone was negative. Destatis released its industrial production data for Germany on Wednesday. German industrial production slid 1.2% in August, missing expectations for a 0.2% gain, after a 1.2% rise in July. July's figure was revised up from a 0.7% increase.

    The output of capital goods decreased 2.1% in August, energy output dropped 1.4%, and the production in the construction sector was down 1.3%, while the production of intermediate goods was flat.

    The output of consumer goods decreased 0.4%.

    German industrial production excluding energy and construction fell by 1.1% in August.

    The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Wednesday. Manufacturing production in the U.K. rose 0.5% in August, exceeding expectations for a 0.3% gain, after a 0.7% decrease in July. July's figure was revised up from a 0.8% drop.

    Manufacturing output was driven by a rise in the vehicle production.

    On a yearly basis, manufacturing production in the U.K. decreased 0.8% in August, missing forecast of a 0.1% fall, after a 1.2% drop in July. July's figure was revised down from a 0.5% decrease.

    Industrial production in the U.K. climbed 1.0% in August, beating forecasts of a 0.3% rise, after a 0.3% fall in July. July's figure was revised up from a 0.4% decline.

    On a yearly basis, industrial production in the U.K. gained 1.9% in August, exceeding expectations for a 1.2% rise, after a 0.7% increase in July. July's figure was revised down from a 0.8% rise.

    The increase was driven by adjustments in the ONS calculations. The extraction industry in the British North Sea was working at full capacity after shutdowns and maintenance work in July. A small increase in gas production also supported the industrial production.

    The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Wednesday. The GDP estimate rose by 0.5% in three months to September, after a 0.6% growth in three months to August.

    "This slight softening in the third quarter is expected to be temporary. It is consistent with our latest forecast for the year as a whole," the NIESR said.

    The NIESR expects the U.K. economy to expand 2.5% in 2015 and 2.4% in 2016, according to its August forecasts.

    The think tank expects the Bank of England to raise its interest rate in the first half of 2016.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 6,336.35 10.19 0.16 %

    DAX 9,970.4 67.57 0.68 %

    CAC 40 4,667.34 6.70 0.14 %


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