European stocks fall as GDP figures weigh

By FXstreet.com | August 14, 2014 AAA

FXStreet (Córdoba) - European stocks were mainly lower Thursday after a series of disappointing grow figures for France and Germany hit hopes for a solid recovery in the euro area, weighing on equities. Investors now await Eurozone 2Q GDP and July CPI data.



The Stoxx Europe 600 was down 0.23% at 329.27, trimming previous session gains. As for country-specific indexes Germany’s DAX 30 fell 0.36% while the France’s CAC 40 dropped 0.51%. Meanwhile, Italy’s FTSE MIB was the worst performer dropping 1.13% while Spanish Ibex 35 shed 0.68%. On the other hand, the UK FTSE 100 rose 0.08%.



On the data front, the German economy unexpectedly contracted by 0.2% in the second quarter, its first contraction in more than a year while France failed to grow in the same period. Attention now turns to Eurozone GDP with analysts calling for a 0.1% rise in Q2 following a 0.2% advance the previous quarter.



In the FX space, the US dollar trades little changed against European rivals, but down versus commodity currencies.



As for commodities, gold rose 0.25% to $1,318 an ounce, while crude oil slid 0.38% to $97.22 a barrel.



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