European stocks climbed ahead the publication of Eurozone’s inflation report on Wednesday. Stock markets were supported by the better-than-expected earnings reports. Market participants were unimpressed by the worse-than expected Spanish unemployment rate and German CPI.

Spain’s unemployment rate rose to 25.9% in the first quarter from 25.7% in the fourth quarter of 2013. The fourth quarter figure was revised down from 26.0%. Analysts forecasted the fall to 25.6%.

German CPI decreased 0.2% in April (March: +0.3%). Analysts forecasted the decline of 0.1%.

Nordea Bank AB shares jumped 3.5% due to its revenue increased 4.7% in the first quarter.

Statoil ASA was up 4.5% after beating its earnings forecast.

Nokia Oyj climbed 2.6 percent after naming a new chief executive officer.

PSA Peugeot Citroen dropped 1.6%.

ABB Ltd. shares - the world’s largest maker of power transformers - declined 7.1% after reporting the 18% fall of its first-quarter net income.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                              6,769.91                              +69.75                     +1.04%

DAX                                      9,584.12                              +137.76                   +1.46%