German Ifo Institute released its business confidence figures for Germany on Tuesday. German business confidence index rises to 109.0 in November from 108.2 in October. Analysts had expected to remain unchanged at 108.2.

"The German economy remains unaffected by growing uncertainty worldwide. Not even the Paris attacks had a negative impact on survey data," Ifo President Hans-Werner Sinn said.

The Ifo current conditions index increased to 113.4 from 112.7. October's figure was revised up from 112.6. Analysts had expected the index to fell to 112.4.

The Ifo expectations index rose to 104.7 from 103.9. October's figure was revised up from 103.8. Analysts had expected the index to decrease to 104.0.