Tuesday brought more positive economic data from the US. Industrial production rose 0.4 percent in September after having fallen 1.4 percent in August. The National Association of Home Builders/Wells Fargo builder sentiment index increased to 41 this month, the highest since June 2006, from 40 in September.
Meanwhile, though, inflation in the US has accelerated. The consumer price index rose 0.6 percent in September for a second consecutive month.
In the euro area, consumer prices rose 0.7 percent in September but the 12-month rate of increase was unchanged at 2.6 percent. Euro-area exports rose 3.7 percent in August, more than reversing the 2.2 percent fall in July.
In the UK, the inflation rate fell to 2.2 percent in September, the lowest in almost three years, from 2.5 percent in August.
Markets were positive on Tuesday, boosted by the positive US economic data as well as news that German lawmakers were open to Spain seeking a precautionary credit line from Europe’s rescue fund.
In further good news for Spain, Moody’s retained its Baa3 rating for the country's bonds. However, the rating was assigned a negative outlook.
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