France, Germany outpace European indexes on macro relief

viernes 14 de noviembre de 2014 04:20 GYT
 

LONDON Nov 14 (Reuters) - French and German stocks outperformed skittish European indexes on Friday after data showed Germany narrowly avoided recession in the third quarter and France grew more than expected.

The data, which put the euro zone on course for anaemic growth but no contraction, mitigated bearish market expectations on the euro bloc and set a constructive backdrop ahead of inflation data at 1000 GMT.

Germany's DAX and France's CAC indexes were 0.3 percent and 0.2 percent higher, respectively, at 0815 GMT, outperforming a flat pan-European FTSEurofirst 300 index, which traded at 1,346.90 points.

The index was weighed down by energy stocks as Brent crude held near a four-year low just above $77 a barrel, amid concerns over excess supply and uncertainty over whether OPEC would cut output at a meeting in two weeks. (Reporting By Francesco Canepa; Editing by Atul Prakash)