Markets in Frankfurt and London are both up, as European stocks rose due to a bigger than forecast drop in the number of people in America claiming unemployment benefits.
UK based Compass Group, the world’s largest catering company surged by 6.4 per cent, after earnings topped analysts’ estimates. Shares in French entertainment company Vivendi added four per cent after Exane BNP Paribas upgraded the shares. Though the UK economy shrank for the sixth successive quarter, the contraction was less than anticipated. Consumer spending stopped falling and GDP was down by only 0.3 per cent.