Markets in Europe rose, as the Chinese economic growth for the second quarter matched the analysts’ forecasts of 7.5%.
The pan-European Euro Stoxx 50 advanced 0.59% higher 2,690.67, while the French CAC 40 gained 0.76% to 3,884.29. The German DAX added 0.61% to 8,263.52 and the UK FTSE 100 climbed 0.74% higher to 6,592.30. Standard & Poor’s 500 Index rose 0.2 %, as the MSCI Asia Pacific gained 0.1 %..
Earlier, reports released from the National Bureau of Statistics (NBS) showed that the Chinese gross domestic product (GDP) for the second quarter expanded by 7.5% as predicted by the analysts, down from the economic growth 7.7 % for the first quarter.
NBS spokesman Sheng Laiyun said he had a positive prospect on the Chinese economic growth and the economic fundamentals behind the world’s second biggest economy.
According to Sheng Laiyun, the National Bureau of Statistics (NBS) carried out a survey with over 200,000 Chinese companies, which showed more than two-thirds of the companies that took part of the survey had a positive outlook for the Chinese economy.
Stocks in the Asian market were also seen higher, after the Chinese GDP matched analysts’ predictions, while the markets in Japan were closed for public holiday.
The Chinese Shanghai Composite advanced 0.80%, closing at 2,059.39, while the Hong Kong Hang Seng gained 0.01% to 21,280.51.
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