European shares finished the day up despite the fact that euro zone economic growth suffered its worst quarter on record in the first three months of this year.
So called defensive sectors such as pharmaceuticals and telecoms retreated which was one reason why London’s FTSE 100 finished lower. Mining and financial stocks performed well with Barclays jumped 5.8 percent as it confirmed it had been approached about selling its asset management arm. Oil prices slipped substantially pressured by weak global demand and as the US dollar firmed against the euro. The single European currency was pushed down by the weak GDP figures for the first quarter. Investors remained cautious despite recent strong gains in European equities as macroeconomic indicators continued to provide reminders that the markets are not out of the woods yet.