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- European stocks close: stocks closed higher on upward revision in U.S. third-quarter GDP and rally of Germany’s DAX
European stocks close: stocks closed higher on upward revision in U.S. third-quarter GDP and rally of Germany’s DAX
Stock indices closed higher on upward revision in U.S. third-quarter GDP and a rally of Germany's DAX. The U.S. revised GDP (gross domestic product) grew 3.9% in the third quarter, higher than the previous estimated growth of 3.5%.
Germany's DAX increased after Germany's final GDP. Germany's final GDP grew 0.1% in third quarter, in line with expectations.
The Organization for Economic Cooperation and Development (OECD) released its economic outlook report on Tuesday. OECD said that the slowdown in Europe is dragging down the global economy. OECD also said that the European Central Bank should implement quantitative easing measures.
The Bank of England (BoE) Governor Mark Carney testified in front of the Treasury Select Committee. He said that the economy in the U.K. faces risks from geopolitical tensions and a slowdown of global growth. Carney reiterated that inflation in the U.K. could fall below 1% in the next few months.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,731.14 +1.35 +0.02%
DAX 9,861.21 +75.67 +0.77%
CAC 40 4,382.31 +13.87 +0.32%
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