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    13.05.2016 16:18 European stocks close: stocks traded higher despite the weak GDP data from the Eurozone

    Stock closed higher despite the weak gross domestic product (GDP) data from the Eurozone. Eurostat released its revised gross domestic product (GDP) data for the Eurozone on Friday. Eurozone's revised GDP rose 0.5% in first quarter, down from the preliminary reading of a 0.6% increase, after a 0.3% gain in the fourth quarter.

    On a yearly basis, Eurozone's revised gross domestic product (GDP) increased 1.5% in fourth quarter, down from the preliminary reading of a 1.6% growth, after a 1.6% rise in the fourth quarter.

    Destatis released its gross domestic product (GDP) growth for Germany on Friday. Germany's preliminary GDP gained by 0.7% in the first quarter, exceeding expectations for a 0.6% growth, after a 0.3% increase in the fourth quarter.

    The increase was driven by domestic demand and capital formation. Both general government final consumption expenditure and household final consumption expenditure increased in the first quarter.

    The trade effect was negative as imports climbed faster than exports.

    On a yearly basis, Germany's GDP fell to 1.3% in the first quarter from 2.1% in the fourth quarter, missing expectations for a 1.5% growth.

    The Office for National Statistics (ONS) released its construction output data for the U.K. on Friday. Construction output in the U.K. declined 3.6% in March. It was the biggest drop since December 2012.

    The decline was driven by a drop in all new work and repair and maintenance, which both plunged 3.6% in March.

    On a yearly basis, construction output decreased 4.5% in March. It was the biggest decline since March 2013.

    Indexes on the close:

    Name Price Change Change %

    FTSE 100 6,138.5 34.31 0.56 %

    DAX 9,952.9 90.78 0.92 %

    CAC 40 4,319.99 26.72 0.62 %


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