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- European stocks close: most stocks closed higher on U.S. gross domestic product
European stocks close: most stocks closed higher on U.S. gross domestic product
Most stock indices closed higher on U.S. gross domestic product (GDP). The U.S. GDP rose at an annual rate of 4.6% in the second quarter, in line with expectations, after a 2.1% decline in the first quarter. A previous reading was a 4.2% gain.
That was the fastest pace since the fourth quarter of 2011.
Concerns are growing over the economy in the Eurozone. The Gfk consumer confidence index for Germany fell to 8.3 in October from 8.6 in September. Analysts had expected the index to decline to 8.5.
Allianz SE shares dropped 6.1% as Pacific Investment Management Co. (Pimco) co-founder and chief investment officer Bill Gross left the Pimco. Allianz owns Pacific Investment Management Co.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,649.39 +9.68 +0.15%
DAX 9,490.55 -19.46 -0.20%
CAC 40 4,394.75 +39.47 +0.91%
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