The European Commission released its economic sentiment index for the Eurozone on Thursday. The index increased to 105.9 in October from 105.6 in September. Analysts had expected the index to remain unchanged at 104.1.

The increase was driven by stronger confidence in the retail and construction sectors.

The industrial confidence index increased to -2.0 in October from -2.3 in September, beating expectations for a decline to -2.7. September's figure was revised down from -2.2.

The final consumer confidence index was down to -7.7 in October from -7.1 in September, in line with expectations.

The business climate index climbed to 0.44 in October from 0.36 in September. September's figure was revised up from 0.34. Analysts had expected the index to decline to 0.32.