European stocks started trading on an upward trend due to the news that Spain withdrew from the political impasse and strong statistical data for the euro area economy.

The Spanish IBEX 35 jumped 1.4% on the information that the leader of the opposition Socialist Party will no longer intend to block the return of Mariano Rajoy, representing the People's Party, to the post of prime minister.

Thus, M.Rahoy can be re-elected to the post of prime minister, and the country will avoid the repeated parliamentary elections, reports BBC.

Statistical data released today, reported an increase in business activity in the euro area.

The composite PMI index of euro-zone countries rose from 52.6 points to 53.7 points - the highest since December 2015, according to preliminary data by Markit Economics.

The indicator of activity in the euro zone's services sector rose from 52.2 to 53.5, manufacturing jumped from 52.6 to 53.3 points - the highest level since April 2014.

The composite index of the largest companies in the region Stoxx Europe 600 rose 0,5% - to 346.16 points.

Shares of Philips NV rose 4,5%. The company has increased its net profit in the third quarter of 2016 by 18.2% thanks to the strong performance in medical technology. In addition to this guide Philips announced plans to sell the unit for the production of LEDs and automotive lamps until the end of 2016.

The cost of securities of Swiss chemical company Syngenta dropped by 8.3%.

Shares of the French supplier of components for the aerospace industry Zodiac Aerospace rose by 2.7% onM & A actions.

At the moment:

FTSE 7022.62 2.15 0.03%

DAX 10799.82 89.09 0.83%

CAC 4572.25 36.18 0.80%