Economy

European markets close mixed despite GDP growth

STOXX Europe 600, Germany’s DAX 30, France’s CAC 40, Italy’s FTSE MIB 30 hit new all-time highs

Ovunc Kutlu  | 16.11.2021 - Update : 16.11.2021
European markets close mixed despite GDP growth

ANKARA

European stock markets closed higher on Tuesday, and four indices posted fresh record high levels, despite gross domestic product (GDP) growing over 2% in the third quarter.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 0.84 points, or 0.17%, to close at 489.27 before hitting an all-time high of 490.45.

London’s FTSE 100 fell 24 points, or 0.34%, to end the day at 7,326.

Germany’s DAX 30 was the best performer of the day by climbing 99 points, or 0.61%, to end the day at 16,247, after seeing a record high of 16,266.26 during the session.

France’s CAC 40 rose almost 24 points, or 0.34%, to close at 7,152 and it hit an all-time high of 7,164.27 points during the day.

Italy’s FTSE MIB 30 declined 63 points, or 0.23%, to end the day at 27,804 before posting a new record high of 27,968.91 points earlier.

Spain’s IBEX 35 decreased 55 points, or 0.61%, to close at 9,040.

The euro area's GDP grew 2.2% in the third quarter, compared to the previous quarter, and the EU27 GDP rose 2.1% during that period, according to a flash estimate by Eurostat earlier.

On an annual basis, GDP rose 3.7% in the eurozone and 3.9% in the EU, the data showed.

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