European Shares Rise After China GDP Grows in Q3

By Staff,

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European stocks gained after Chinese GDP grew in Q3, breaking a three quarter slowing trend.

China's Q3 GDP rose 7.8%, as expected, and marked the first time in three quarters growth accelerated.

Additional support stemmed from speculation the Fed will keep US monetary policy on hold for a bit longer after the government shutdown. The shutdown is thought to have slowed GDP growth slightly.

In ADR news, a unit of British lender HSBC ( HBC ) was hit with a record $2.46 billion final judgment in a U.S. securities class action lawsuit against a business formerly known as Household International, according to a report by Reuters.

Grifols SA ( GRFS ) saw Alken Asset Management LLP sell a 2.7% stake in the company. UBS AG said it placed the shares at 29 euros each.

The FTSE-100 was last up 0.71% at 6,622.58, the DAX up 0.6% at 8,865.10 and the CAC-40 up 1.09% at 4,286.03.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: GRFS , HBC

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