European Equity Benchmarks Close Higher

The broad-based major European indices closed higher in Wednesday’s trading session, as automotive stocks, mining firms, utilities providers, and luxury goods retailers boosted the markets.

In economic news, the U.K.’s trade deficit on goods and services was estimated to have been GBP4.2 billion ($5.1 billion) in November, according to the Office for National Statistics (ONS). That is an increase of GBP2.6 billion from October, which reflects a GBP3.3 billion increase in imports, partially offset by a GBP700 million increase in exports.

The widening of the deficit was attributed to trade in goods in which there were increased imports from both E.U. and non-E.U. countries, partially offset by an increase in exports to E.U. countries.

In Spain, the monthly variation of the Industrial Production Index (IPI) for November 2016 stands at 1.7%, according to the Spanish Statistical Office. The annual rate of the IPI stands at 3.2% in the series adjusted for the seasonal and calendar effects.

The IPI is a situational indicator that measures the monthly development of productive activity of industrial branches in Spain.

By Sara Howard