European stocks close: stocks traded higher on a rise in oil prices

Stock indices closed higher as oil prices increased. Oil prices remained supported by the wildfire in Canada.

Market participants also eyed the economic data from the Eurozone. Destatis released its industrial production data for Germany on Tuesday. German industrial production fell 1.3% in March, missing expectations for a 0.3% drop, after a 0.7% decline in February. It was the biggest drop since August 2014.

German industrial production excluding energy and construction fell by 1.2% in March.

According to Destatis, Germany's trade surplus increased to €26.0 billion in March from 20.2 in February. February's figure was revised down from a surplus of €20.3 billion.

Exports climbed 1.9% in March, while imports were down 2.3%.

On a yearly basis, German exports decreased 0.5% in March, while imports slid by 4.3%.

Germany's current account surplus was €30.4 billion in March, up from €21.1 billion in February. February's figure was revised up from a surplus of €20.0 billion.

The French statistical office Insee its industrial production figures on Tuesday. Industrial production in France slid 0.3% in March, missing expectations for a 0.3% increase, after a 1.3% drop in February. February's figure was revised down from a 1.0% fall. Manufacturing output dropped 0.9% in March, while construction output jumped 1.2%.

The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £11.2 billion in March from £11.4 billion in February.

The decline in deficit was driven by a rise in exports, which increased by £0.4 billion in March.

The total trade deficit for goods and services widened to £13.3 billion in the first quarter from £12.2 billion in the fourth quarter of 2015. It was the biggest gap since the first quarter of 2008.

The total trade deficit, including services, narrowed to £3.83 billion in March from £4.3 billion in February. February's figure was revised down from a deficit of £4.84 billion.

The National Institute of Economic and Social Research (NIESR) lowered its GDP growth forecast for the U.K. on Tuesday. If Britain remains in the European Union (EU), the U.K. GDP will be expected to grow 2.0% in 2016, down from the previous estimate of 2.3%. The NIESR expects the U.K. economy to expand at 2.7% in 2017, unchanged from the previous estimate. The NIESR said that uncertainty around the referendum on Britain's membership in the EU weighed on the economy.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,156.65 +41.84 +0.68 %

DAX 10,045.44 +64.95 +0.65 %

CAC 40 4,338.21 +15.40 +0.36 %