European stocks rise on improved business sentiment

Although a series of indicators issued by the German Ifo Institute recorded levels below expectations, they were able to support stocks on the European stock exchanges on Friday because the recent figures were higher than previous readings.

The Ifo Business Climate Index for Germany, corporate confidence, rose 87.3 points this November compared to the previous reading, which recorded 86.9 points.

The German Ifo index reading of confidence in current economic conditions in the euro zone also rose to 89.4 points this November, compared to the previous reading, which recorded 89.2 points.

The index of confidence in economic expectations, future economic conditions, issued by the German Ifo Institute, rose to 85.2 points this month, compared to the previous reading, which recorded 84.8 points.

Although all European indicators issued on Friday recorded an increase, they all fell below market expectations. But European stocks chose the positive side of the story and rose at the end of weekly trading.

The Stoxx Europe 600 index rose to 459 points after adding about two points, or 0.4%. The German DAX rose to 16,026 points after gains of about 35 points, or 0.3%. The French CAC 40 rose to 7,292 points, with the FTSE Milan and IBEX 35 rising by about 0.7% and 0.4%, respectively.