Global recession fears offset a slight upward revision to third-quarter eurozone growth on Wednesday, as European stocks extended their losing streak.
At the close, the Stoxx Europe 600 fell 0.62%, the London FTSE 100 fell 0.43%, the Swiss Market Index lost 0.89%, the French CAC 40 lost 0.41% and the German DAX fell 0.57%.
Eurostat reported that eurozone GDP grew by 0.3% in Q3, compared to 0.8% in Q2 and the flash estimate of 0.2%. The number of people employed in the region increased by 0.3% during the quarter. In other data news, Greece’s third-quarter GDP fell as growth in Sweden’s economy slowed in October.
In the UK, house price growth in November slowed to 4.7% from 8.2% in October, according to the Halifax House Price Index in the UK.
Switzerland’s unemployment rate in November rose slightly to 2% from 1.9% in October, according to data from the State Secretariat for the Economy. The figure was in line with estimates.
In company news, GSK (GSK.L), Sanofi (SAN.PA) and Pfizer have secured a legal victory after a U.S. District Court dismissed thousands of lawsuits that the antacid Zantac may cause cancer. GSK rose 8.26% in London and Sanofi gained 6.10% on Euronext Paris.