European Markets Climb as Eurozone GDP Growth Confirmed

On Friday, major European stock exchanges closed mostly higher as investors digested the latest economic data from the Eurozone. The European Commission's statistical office, Eurostat, reported that the Eurozone's gross domestic product (GDP) grew by 0.4% in the third quarter of 2024.

Germany's Federal Statistical Office, Destatis, also released its report on industrial production, which showed a decline of 1% in October. Despite this, the DAX index rose by 0.13%, driven by a 2.71% surge in Bay.Motoren. The EURO STOXX 50 gained 0.53%, and the CAC 40 jumped 1.31%, with Kering SA leading the charge with a 5.96% increase.

However, the FTSE closed 0.49% lower, with Frasers Group PLC losing 3.63%. Meanwhile, the euro weakened slightly against the dollar, trading at $1.05751, while the pound sterling remained flat at $1.27508.