European Shares Rise After China GDP Grows in Q3

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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.



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This article appears in: Investing , Commodities

Referenced Stocks: GRFS , HBC

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