European stocks climbed for a sixth day amid better-than-expected U.S. economic-growth data.
The
Stoxx Europe 600 Index rose 0.6 percent to 344.06 at the close of
trading. It briefly pared gains after a report showed that sales of new
U.S. homes unexpectedly declined in November. The European stocks gauge
posted its biggest six-day jump in three years, rising 6.4 percent.
Commerce
Department data showed the world™s biggest economy grew in the third
quarter more than forecast, expanding at the fastest pace in more than a
decade. Gross domestic product increased at a 5 percent annual rate, up
from a previously estimated 3.9 percent, according to revised figures
released today in Washington. The Dow Jones Industrial Average rose
above 18,000 for the first time after the GDP report.
Benchmark
stock indexes of Portugal, France and Italy posted some of the biggest
gains, rallying more than 1 percent. The volume of Stoxx 600 shares
changing hands was 38 percent lower than the 30-day average, data
compiled by Bloomberg show.
Source: Bloomberg
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