PARIS (dpa-AFX) - The European markets are trading mixed 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 losing 0.09 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is falling 0.26 percent.
The German DAX is losing 0.08 percent and the French CAC 40 is rising 0.15 percent. The FTSE 100 index of the U.K. is losing 0.08 percent while Switzerland's SMI is falling 0.39 percent.
In Frankfurt, 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.
In Paris, Airbus is gaining 3.4 percent after announcing quarterly results.
Bouygues, which raised sales forecast for the year, is gaining around 3 percent.
Credit Agricole is gaining 1.3 percent, while Societe Generale and BNP Paribas are moderately up.
Oil firm Total is on the decline, reflecting the dip in oil prices.
In London, miners and oil firms are feeling the heat. Fresnillo, Randgold Resources, Anglo American, BHP Billiton and Rio Tinto are losing between 2.5 percent and 1.5 percent.
Tullow Oil is losing 2.5 percent, BP is declining 1.1 percent and Royal Dutch Shell is dropping moderately.
Aggreko is gaining 3.2 percent. The temporary power services provider said its underlying group revenue for the third quarter was up 6 percent from last year.
Aberdeen Asset Management is adding 1.8 percent and Standard Life is gaining 1.6 percent.
Nokia is losing around 2 percent in Helsinki. At its Capital Markets Day event, the company said it expects sales growth in all segments in 2015.
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 rising $0.13 to $74.34 per barrel, while December gold is falling $8.5 to $1153.0 a troy ounce.
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