European stocks rose from a three-week low on Thursday. Investors from around the world are predicting the U.S economy had expanded by 2.5 percent in the first quarter. Investors are still awaiting the US gross domestic product reports for the first quarter.
The Stoxx Europe 600 Index inched up 0.2 % to 303.14 at 8:08am GMT .While the German’s DAX reduced by 0.10% to 8,328.29, Standard & Poor’s 500 index fell by 0.1% .Franc e CAC 40 increased by 0.43% to 3,990.82 and the UK’s FTSE 100 gained 0.27% to 6,645.30.
With the Stoxx 600 dropping by 1.9 yesterday, investors raise concerns in the U.S. Treasury market that the Fed will narrow the bond purchases as the economy strengthens.
Meanwhile in Spain, the final gross domestic product fell by 0.5 percent in the first quarter. In Italy, the retail purchasing managers’ Index for the euro zone stood at 46.8 points in May compared to April’s record of 44.2. According to the National institute for statistics, Producer prices in Italy fell by 0.4% from month to month in April after a flat reading in March.
In Rome, the government will try to sell five-year bonds with a fixed coupon of 2.84%, with bonds growing in 2023 with a fixed coupon of 3.94%. The target for the sale is an estimated 5.75 billion euros.
The German Chancellor Angela Merkel met with French President Francois Hollande to discuss plans on how to strengthen the management of the 17-nation boost of the industry.
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