France, Germany outpace European indexes on economy relief

viernes 14 de noviembre de 2014 04:51 GYT

* FTSEurofirst 300 down 0.1 pct

* CAC, DAX rise as GDP reading brings relief

* Bouygues, Airbus boosted by earnings beat

By Francesco Canepa

LONDON, Nov 14 (Reuters) - French and German stocks outperformed skittish European bourses 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 more positive backdrop ahead of inflation data at 1000 GMT.

Germany's DAX and France's CAC indexes were 0.2 percent and 0.3 percent higher, respectively, at 0834 GMT, outperforming the pan-European FTSEurofirst 300 index, which traded 0.1 percent lower at 1,345.64 points, and Britain's FTSE , also down 0.1 percent.

The FTSE, the only major European index to eye a large percentage gain for the week, was weighed down by energy stocks such as BP and Shell as Brent crude held near a four-year low just above $77 a barrel.

Oil prices have been hit by concerns over excess supply and uncertainty over whether OPEC would cut output at a meeting in two weeks.   Continuación...