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Stock traded mixed. Last week’s ECB interest rate decision weighed on stock markets. The European Central Bank cut its interest rate to 0.15% from 0.25% last Thursday. The ECB also cut its marginal lending to 0.40% from 0.75% and reduced its deposit rate to -0.10% from 0.0%.
Markets were also supported by the strong economic data. Manufacturing output in the U.K. increased 0.4% in April, meeting expectations, after 0.5% gain in March. On a yearly basis, manufacturing production in the U.K. rose 4.4% in April, exceeding expectations for a 4% increase, after a 3.3% increase in March.
Industrial production in the U.K. climbed 0.4% in April, in line with forecasts, after a 0.1% decline in March. On a year-over-year basis, industrial production in the U.K. rose 3.0% in April, after a 2.3% increase in March. Economists had expected a 2.7% gain.
The National Institute of Economic and Social Research (NIESR) released their monthly U.K. GDP estimates. They forecasted that GDP increased by 0.9% in the three months ending in May after rise of 1.1% in the three months ending in April 2014.
Industrial production in France rose 0.3% in April, meeting expectations, after a 0.4% decline in March. March’s figure was revised up from a 0.7% decrease.
On a yearly basis, industrial production in France was flat in April, after a 0.8% fall in March.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,873.55 -1.45 -0.02%
DAX 10,028.80 +20.17 +0.20%
CAC 40 4,595.00 +5.88 +0.13%
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