European stocks close: stocks closed mixed as oil prices traded higher and on the better-than-expected Chinese trade data

Stock indices traded mixed as oil prices traded higher and on the better-than-expected Chinese trade data. The Chinese Customs Office released its trade data on Wednesday. China's trade surplus climbed to $58.2 billion in December from $54.1 billion in November, beating expectations for a decline to a surplus of $53.0 billion. Exports fell at an annual rate of 1.4% in December, while imports slid at an annual rate of 7.6%, the fourteenth consecutive decline. In yuan denomination, exports climbed 2.3% in December, while imports dropped 4.0%.

Meanwhile, the economic data from the Eurozone was weaker than expected. Eurostat released its industrial production data for the Eurozone on Wednesday. Industrial production in the Eurozone dropped 0.7% in November, missing expectations for a 0.3% decrease, after a 0.8% rise in October. October's figure was revised up from a 0.6% increase.

The fall was driven by declines in durable consumer goods, energy and capital output.

On a yearly basis, Eurozone's industrial production gained 1.1% in November, missing expectations for a 1.3% rise, after a 2.0% increase in October. October's figure was revised up from a 1.9% gain.

The increase was mainly driven by rises in durable consumer goods, non-durable consumer goods, intermediate goods output and capital goods.

The German Finance Ministry said on Wednesday that the country's budget surplus was €12.1 billion in 2015, up from the previous forecast of a €6.1 billion surplus. The surplus was driven by strong tax revenues and one-off effects.

German Finance Minister Wolfgang Schäuble said that he expects a balanced budget in 2016 if the domestic labour market will remain robust. He added that the surplus will be used to cover migration-related costs.

Indexes on the close:

Name Price Change Change %

FTSE 100 5,960.97 +31.73 +0.54 %

DAX 9,960.96 -24.47 -0.25 %

CAC 40 4,391.94 +13.19 +0.30 %