European stocks end higher as GDP beats estimates

European stocks end higher as GDP beats estimates

GDP increased 0.7% in euro area, 0.6% in EU

By Ovunc Kutlu

ANKARA (AA) - European stock markets closed higher on Friday as the GDP data beat market expectations.

The STOXX Europe 600, which includes around 90% of the market capitalization of European market in 17 countries, was up 5.52 points, or 1.28%, to finish at 438.29.

The UK's FTSE 100 rose 78 points, or 1.06%, to end the day at 7,423. Similarly, Germany's DAX 30 added 201 points, or 1.52%, to close the day at 13,484.

GDP increased 0.7% in the euro area and 0.6% in the EU during the second quarter of this year, compared with the previous quarter, according to Eurostat figures released earlier. Both data came higher than market estimates.

France's CAC 40 increased 109 points, or 1.72%, to end the day at 6,448.

Italy's FTSE MIB was the best performer of the day, gaining 473 points, or 2.16%, to reach 22,405.

Spain's IBEX 35 gained 71 points, or 0.88%, to finish at 8,156.

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