Stock indices traded higher on a rise in oil prices and on the positive trade data from Germany. Destatis released its trade data for Germany on Friday. Germany’s trade surplus increased to a seasonally adjusted €19.7 billion in February from 18.7 in January.
Exports climbed 1.3% in February, while imports were up 0.4%.
On a yearly basis, German exports increased 4.1% in February, while imports rose by 4.0%.
Germany’s current account surplus was €20.0 billion in February, up from €14.3 billion in January. January’s figure was revised up from a surplus of €13.2 billion.
The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Friday. Industrial production in the U.K. fell 0.3% in February, missing forecasts of a 0.1% increase, after a 0.2% rise in January.
The decrease was mainly driven by a decline in the manufacturing output.
On a yearly basis, industrial production in the U.K. decreased 0.5% in February, missing expectations for a flat reading, after a 0.1% increase in January. It was the largest decline since August 2013.
The decline was driven by a drop in the manufacture of machinery & equipment, which slid 10.6% year-on-year in February.
Manufacturing production in the U.K. dropped 1.1% in February, missing expectations for a 0.2% fall, after a 0.5% gain in January.
The decline was driven by a fall in in the manufacture of transport equipment, which decreased 2.9% in February.
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 1.8% in February, missing forecast of a 0.7% fall, after a 0.3% drop in January. It was the largest decrease since July 2013.
According to another report from the ONS, the U.K. trade deficit in goods narrowed to £11.96 billion in February from £12.16 billion in January. January’s figure was revised down from a deficit of £10.29 billion. The decline in deficit was driven by a rise in exports.
The total trade deficit, including services, narrowed to £4.84 billion in February from £5.23 billion in January. January’s figure was revised down from a deficit of £3.46 billion.
Current figures:
Name Price Change Change %
FTSE 100 6,176.14 +39.25 +0.64 %
DAX 9,618.32 +87.70 +0.92 %
CAC 40 4,279.72 +33.81 +0.80 %
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