FTSE 100 Modestly Higher In Cautious Trade
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks eked out modest gains in cautious trade on Tuesday after official data showed the U.K. economy rebounded at a faster than estimated pace in the third quarter, reflecting the effects of the easing of lockdown restrictions and also some recovery of activity from the steep contraction in April.
Gross domestic product grew by a record 16 percent sequentially instead of 15.5 percent expansion estimated previously. GDP had fallen by revised 18.8 percent in the second quarter.
Although this reflects some recovery of activity following the record contraction in the second quarter, GDP was 8.6 percent below where it was at the end of 2019. The annual fall in GDP was revised to 8.6 percent from 9.6 percent in the third quarter.