Stock indices closed higher in the absence of any major economic reports from the Eurozone. Market participants are awaiting the European Central Bank's (ECB) monetary meeting tomorrow. A speech by the ECB President Mario Draghi will be closely monitored for signals of further quantitative easing. The inflation in the Eurozone remains at low levels, and several ECB officials expressed concerns over the low inflation.
The Office for National Statistics released public sector net borrowing for the U.K. on Tuesday. The public sector net borrowing in the U.K. fell to £8.63 billion in September from £10.80 billion in August. August's figure was revised up from £10.9 billion. Analysts had expected a decrease to £9.4 billion.
Public sector net borrowing excluding public sector banks totalled £9.4 billion in September, down £1.6 billion from last year.
The decline in debt was driven by higher revenues from income, VAT and corporation tax.
Total debt was £1,524.1 billion in September, up £70.5 billion from last year. It was equal to 80.6% of GDP.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,348.42 3.29 0.05 %
DAX 10,238.1 90.42 0.89 %
CAC 40 4,695.1 21.29 0.46 %