12:11 PM EST, 11/29/2024 (MT Newswires) -- The European stock markets closed higher in Friday trading as the Stoxx Europe nudged 0.56% higher, Germany's DAX was up 1.06%, the FTSE in London was up 0.04%, France's CAC rose 0.77% and the Swiss Market Index closed 0.30% higher.

Euro area annual inflation is projected to rise to 2.3% in November, up from 2% in October, according to Eurostat, the statistical office of the European Union. While services and food inflation are expected to remain relatively high, energy prices are anticipated to stabilize.

The European Central Bank said it is making changes to its collateral framework to harmonize it and phase out temporary easing measures. Changes include the integration of some temporary measures into the general framework and the discontinuation of certain asset types as eligible collateral. Non-financial corporate credit claims will remain eligible collateral until at least the end of 2026.

In the UK, the net capital stock grew by 1.2% in 2023, with machinery, equipment, and weapons systems seeing the fastest growth rate since 2017, according to a report by the Office for National Statistics. Central government investments also increased significantly, marking the largest annual growth since 2004.

And in corporate news, Anglo American led the gainers on the FTSE after Jefferies upgraded its rating on the mining company to buy from hold citing progress in ongoing restructuring, improvement in operational performance, and potential for merger and acquisition activity.

BAE Systems saw the biggest decline after BofA analysts downgraded the rating to underperform from neutral due to risks of potential spending cuts by the US government.

On the DAX, MTU Aero Engines and Infineon were the biggest gainers with stocks advancing over 3%.

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