European stock markets mid session: stocks traded higher on the ECB’s further action speculation

Stock indices traded higher on speculation that the European Central Bank (ECB) will add further stimulus measures after the release of the weaker-than-expected consumer price inflation data from the Eurozone. Eurostat released its consumer price inflation data for the Eurozone on Wednesday. The preliminary consumer price inflation in the Eurozone remained unchanged at an annual rate of 0.1% in November, missing expectations for a rise to 0.2%.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco fell to an annual rate of 0.9% in November from 1.1% in October. Analysts expected the inflation to decline to 1.0%.

Food, alcohol and tobacco prices were up 1.5% in November, non-energy industrial goods prices gained 0.5%, and services prices climbed 1.1%, while energy prices dropped 7.3%.

Eurozone's producer price index declined 0.3% in October, beating expectations for a 0.4% drop, after a 0.4% decrease in September. September's figure was revised down from a 0.3% fall.

Intermediate goods prices fell 0.4% in October, capital goods prices were flat, non-durable consumer goods prices declined 0.2%, and durable consumer goods prices were stable, while energy prices decreased 0.4%.

On a yearly basis, Eurozone's producer price index dropped 3.1% in October, beating expectations for a 3.2% decrease, after a 3.2% fall in September. September's figure was revised down from a 3.1% drop.

Eurozone's producer prices excluding energy fell 0.7% year-on-year in October. Energy prices dropped at an annual rate of 9.7%.

Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. fell to 55.3 in November from 58.8 in October, missing expectations for a fall to 58.2. It was the lowest level since April.

A reading above 50 indicates expansion in the construction sector.

The index was driven by a decline in all three broad areas of construction activity.

"The UK construction recovery is down but not out, according to November's survey data. Aside from a pre-election growth slowdown in April, the latest expansion of construction activity was the weakest for almost two-and-a-half years amid a sharp loss of housebuilding momentum," Senior Economist at Markit, Tim Moore, said.

Current figures:

Name Price Change Change %

FTSE 100 6,426.65 +31.00 +0.48 %

DAX 11,309.38 +48.14 +0.43 %

CAC 40 4,932.91 +18.38 +0.37 %