European Markets Are Up

LondonREUTERS/Fabrizio BenschA performer playing the role of Britain’s Queen Elizabeth parachutes from a helicopter during the opening ceremony of the London 2012 Olympic Games at the Olympic Stadium July 27, 2012.

European markets are up early Tuesday, after final UK GDP figures showed that country’s economy is growing at a slightly slower rate than expected

Here’s the scorecard:

France’s CAC 40 is up 0.48%

Germany’s DAX is flat. 

Britain’s FTSE 100 is up 0.26%

Spain’s IBEX is down 0.12%

Italy’s FTSE MIB is up 0.48%

Asian markets closed down slightly. Japanese markets are shut for the the Emperor’s birthday holiday. Hong Kong’s Hang Seng closed down 0.32%. 

US futures are up slightly. The Dow is up 19 points, the S&P 500 is up 1.3 points, and NASDAQ is up 2 points.

Figures from the Office for National Statistics (ONS) released on Tuesday show that UK gross domestic product (GDP) grew by 0.7% in the three months to September compared with the previous quarter from April to June. GDP in the third quarter of 2014 grew by 2.6% year-on-year, revised down from the original estimate of 3%. The ONS also reported that the UK’s current account deficit, which is a measure of trade between the UK and the rest of the world in goods, services, and investments, soared to £27 billion in the third quarter. 

Meanwhile, it’s going to be a busy day for US economic data. Stay tuned for fresh data on durable good orders, GDP, income, spending, and consumer confidence

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