European stocks end higher on positive economic data

European stock markets closed higher on Thursday, buoyed by positive economic indicators. The Stoxx Europe 600 gained 1.15 per cent, with Germany’s DAX leading the pack with a 1.66 per cent increase. France’s CAC 40 and the UK’s FTSE 100 also saw significant gains, of 1.23 per cent and 0.80 per cent, respectively.  The Swiss Market Index rose 0.65 per cent.

In a positive development, the UK’s economy expanded by 0.6 per cent in the second quarter, driven by growth in the service sector. Meanwhile, a preliminary release of Switzerland’s quarterly real GDP showed that the country’s economic output is estimated to have increased by 0.5 per cent in the second quarter of 2024.

Attribution: Reuters