Stock indices closed higher, driven by expectations for further stimulus measures by the European Central Bank (ECB) also supported stocks. Market participants expect the central bank to cut its deposit further or/ and to expand its monthly asset purchases. The ECB's is -0.3%, and monthly asset purchases total €60 billion.
No major economic reports were released today.
Higher oil prices also supported stocks.
The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Wednesday. Industrial production in the U.K. rose 0.3% in January, missing forecasts of a 0.5% increase, after a 1.1% decline in December.
The increase was mainly driven by a gain in water supply, sewerage & waste management, which soared 9.3% in January.
On a yearly basis, industrial production in the U.K. increased 0.2% in January, in line with expectations, after a 0.2% decrease in December. December's figure was revised up from a 0.4% fall.
Manufacturing production in the U.K. climbed 0.7% in January, exceeding expectations for a 0.2% gain, after a 0.3% decrease in December. December's figure was revised down from a 0.2% drop.
Manufacturing output was mainly driven by a rise in other manufacturing and repair, which climbed by 4.8% in January.
On a yearly basis, manufacturing production in the U.K. decreased 0.1% in January, beating forecast of a 0.7% fall, after a 1.7% drop in December.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,146.32 20.88 0.34 %
DAX 9,723.09 30.27 0.31 %
CAC 40 4,425.65 21.63 0.49 %