2:00 PM Frankfurt Euro zone industrial producer prices eased in October. German exports increased 3.6% in the third quarter. UK construction activity deteriorated and Spanish unemployment rose in November. Baxter agreed to acquire Swedish dialysis products maker.
The European indexes edged higher and banks led the gainers and Baxter International agreed to acquire privately held Swedish dialysis products maker.
The euro area finance ministers agreed to release 39.5-billion to Spain to recapitalize its banks.
Nokia agreed to sell and lease back its head office building in Espoo, Finland for 170 million.
In economic news, euro zone industrial producer prices eased and German exports increased in the third quarter. UK construction activity worsened and Spanish unemployment rose in November.
In Paris trading, the CAC-40 Index rose 27.11 or 0.8% to 3,593.61 and in Frankfurt the DAX Index edged higher 23.61 or 0.3% to 7,458.64.
The yields on Spains benchmark fell 0.04 percentage point to 5.20%. Italian 10-year yields declined 0.04 percentage point to 4.39%.
OECD Area Inflation Climbs
Annual inflation in the OECD area rose 2.3% in October compared with 2.2% in September, according to latest data released today.
Energy prices accelerated to 5.4% in October; up from 5.1% in September while food prices remained broadly stable in October at 2.2%, up from 2.1% in September.
Excluding food and energy, the OECD annual inflation rate slightly increased to 1.7% in October.
Euro Zone Producer Prices Ease
Industrial producer prices rose 0.1% in both the euro area and the EU27 in October compared with September, according to estimates from Eurostat.
In September, prices increased 0.2% and 0.3% in the euro area and the EU27 respectively.
From a year ago, industrial producer prices gained 2.6% in the euro area and 2.5% in the EU27 in October.
German Exports Improve
German exports increased 3.6% to 275 billion in the third quarter compared with the same quarter a year earlier, data from the Federal Statistics Office showed.
German exports to countries outside the EU rose 9.9% to 122.3 billion. Their share in total German exports rose to 44.4% in the third quarter.
UK Construction Activity Falls
Business conditions in the UK construction sector deteriorated during November, a survey by Markit Economics and the Chartered Institute of Purchasing & Supply showed today.