European stocks rose at the end of the session, supported by positive economic data

Thursday, January 26, 2023 - 19:47
Point Trader Group

European stocks rose at the close of trading on Thursday, January 26th, to continue the gains recorded over the past sessions, supported by economic data in America.

At the end of the session, the STOXX600 index rose by 0.42% to 453 points, while the German DAX rose by 0.34%, recording 15132 points.

The British FTSE closed up by 0.21%, at 7,761 points, while the French CAC rose by 0.74%, recording 7,095 points.

Shares of food and beverage sector companies led the gains of the European Stock Exchange, as it rose by 1.88%.

Economic data in the United States today revealed that the gross domestic product grew by 2.9% in the fourth quarter of 2022, which exceeds analysts' expectations of 2.8%.

The European stock market also received a boost throughout the week from economic data which revealed an improvement in business confidence in Germany and a rise in the services and manufacturing PMI in the eurozone.

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