Stock indices traded higher as oil prices rebounded and on the better-than-expected Chinese trade data. The Chinese Customs Office released its trade data on Wednesday. China's trade surplus climbed to $58.2 billion in December from $54.1 billion in November, beating expectations for a decline to a surplus of $53.0 billion. Exports fell at an annual rate of 1.4% in December, while imports slid at an annual rate of 7.6%, the fourteenth consecutive decline. In yuan denomination, exports climbed 2.3% in December, while imports dropped 4.0%.
Meanwhile, the economic data from the Eurozone was weaker than expected. Eurostat released its industrial production data for the Eurozone on Wednesday. Industrial production in the Eurozone dropped 0.7% in November, missing expectations for a 0.3% decrease, after a 0.8% rise in October. October's figure was revised up from a 0.6% increase.
The fall was driven by declines in durable consumer goods, energy and capital output.
On a yearly basis, Eurozone's industrial production gained 1.1% in November, missing expectations for a 1.3% rise, after a 2.0% increase in October. October's figure was revised up from a 1.9% gain.
The increase was mainly driven by rises in durable consumer goods, non-durable consumer goods, intermediate goods output and capital goods.
Name Price Change Change %
FTSE 100 6,003.11 73.87 1.25 %
DAX 10,119.98 134.55 1.35 %
CAC 40 4,454.61 75.86 1.73 %