Stock indices traded higher as the Chinese stock markets seemed to stabilise. The People's Bank of China (PBoC) intervened in the offshore yuan market on Tuesday. The offshore yuan strengthened after the intervention. The price gap against the dollar with the onshore yuan was eliminated. The intervention helped to stabilised the markets.
The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Tuesday. Manufacturing production in the U.K. fell 0.4% in November, missing expectations for a 0.1% gain, after a 0.4% decrease in October.
Manufacturing output was mainly driven by a drop in basic pharmaceutical products and pharmaceutical preparations, which plunged by 4.9% in November.
On a yearly basis, manufacturing production in the U.K. decreased 1.2% in November, missing forecast of a 0.8% fall, after a 0.2% drop in October. October's figure was revised down from a 0.1% decrease.
Industrial production in the U.K. slid 0.7% in November, missing forecasts of a flat reading, after a 0.1% rise in October.
The decline was driven by a demand for energy. Electricity and gas output plunged 2.1% in November.
On a yearly basis, industrial production in the U.K. gained 0.9% in November, missing expectations for a 1.7% rise, after a 1.7% increase in October.
Name Price Change Change %
FTSE 100 5,935.25 63.42 1.08 %
DAX 10,053.27 228.20 2.32 %
CAC 40 4,401.66 88.92 2.06 %