BERLIN (dpa-AFX) - The German market is trading higher on Friday, after flash estimates from Eurostat showed the Eurozone economy grew at a faster-than-expected pace in the third quarter.
Gross domestic product gained seasonally adjusted 0.2 percent from the second quarter, when it was up 0.1 percent. Economists had forecast the rate to remain at 0.1 percent. On a yearly basis, GDP growth remained unchanged at 0.8 percent, while it was forecast to slow marginally to 0.7 percent.
Further, the German economy recovered at a moderate pace avoiding a recession in the third quarter, while France rebounded at the fastest rate in a year, preliminary results showed.
Germany's gross domestic product rose 0.1 percent sequentially offsetting a revised 0.1 percent drop in the previous quarter, while the French GDP expanded at a faster-than-expected pace of 0.3 percent.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.14 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.22 percent.
The DAX is up 0.11 percent.
Adidas is gaining 1.6 percent and Deutsche Telekom is rising 1 percent. Exane BNP raised Deutsche Telekom to 'Outperform' from 'Neutral.'
Salzgitter is climbing over 6 percent as Credit Suisse and Deutsche Bank upgraded their rating on the stock.
Continental, Commerzbank, Siemens are moderately higher.
Meanwhile, utilities RWE and E.ON are losing 3.3 percent and 1.8 percent, respectively.
Markets elsewhere in the region are trading mixed.
The Asian stocks closed mixed yet again following another flat lead from Wall Street last night. Geopolitical worries and tumbling crude oil prices kept investors on tenterhooks even as Japanese shares reversed early losses to hit a fresh seven-year high.
In the U.S., futures point to a cautious open on Wall Street. In the previous session, stocks fluctuated before closing higher. While the Dow rose 0.2 percent to close at a fresh record high, the tech-heavy Nasdaq and the S&P 500 inched up about 0.1 percent each.
Crude for December delivery is losing $0.21 to $74.00 per barrel, while December gold is falling $9.9 to $1151.6 a troy ounce.
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