European stocks close higher as industrial producer prices fall

By Ovunc Kutlu

ISTANBUL (AA) - European stock exchanges closed with gains on Friday as industrial producer prices fell both in the euro area and the EU.

Industrial producer prices in January declined 2.8% in the euro area and 2.2% in the EU, compared to the previous month, according to estimates from Eurostat earlier.

The figures show a significant reversal from December when industrial producer prices increased 1.1% in the euro area and 1.2% in the EU.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 4.24 points, or 0.92%, to finish at 464.26.

The UK's FTSE 100 added 3 points, or 0.07%, to end the session at 7,947.

Germany's DAX 30 was the best performer of the day, soaring 250 points, or 1.64%, to close at 15,578.

France's CAC 40 climbed 63 points, or 0.88%, to finish the day at 7,348. Italy's FTSE MIB, meanwhile, jumped 427 points, or 1.56%, to 27,825.

Spain's IBEX 35 increased 136 points, or 1.47%, to close at 9,464.