European Stocks Rise as U.K. Growth Estimate Is Left Unchanged - TheStreet

LONDON ( The Deal) -- European stocks rose again on Wednesday as the U.K. left its third-quarter GDP growth estimate unchanged, and as investors awaited a fresh batch of pre-Thanksgiving economic data from the United States.

Germany's DAX climbed 0.62% to 9,922.77, led by gains in energy companies RWE and E.ON (EONGY) . Among other benchmark indices, the FTSE 100 rose 0.28% to 6,749.97 in London, as France's CAC 40 added 0.05% to 4,383.35.

Continued evidence of modest economic growth in Europe came in the morning from the U.K. Office for National Statistics, which left its third-quarter GDP growth estimate unchanged at 0.7%, the seventh straight quarterly increase.

Among individual stocks Deutsche Bank (DB) - Get Report was up 0.98% in Frankfurt, a day after Fitch Ratings affirmed the lender's long-term issuer default rating at A+, albeit with a negative outlook amid volatile earnings from securities businesses.

Deutsche Telekom (DTEGY) climbed 1.81% after it and France's Orange confirmed they are in talks to sell their U.K.-based wireless carrier EE to BT Group (BT) while stressing that the talks are "highly exploratory."

That puts Deutsche Telekom and Orange in direct competition with Spain's Telefónica (TEF) - Get Report , which is already in talks with BT regarding a possible sale of Telefónica 02 U.K. cellular business to the British telecoms giant.

Telefónica shares were down 0.16% in Madrid, while Orange shed 0.25% in Paris.

In London, investors were less happy about a management reshuffle at U.K. travel company Thomas Cook (TCKGY)

Shares were down 9.43% at 111.10 pence after the company announced the surprise departure of CEO Harriet Green just two years after leading a turnaround when the stock was trading at a paltry 14 pence. Peter Fankhauser, who served as chief operating officer for the past year, will succeed her with immediate effect.

Thomas Cook said it now expects growth this year to be at a "more moderate pace" as it continues its transformation.

Asian stocks were mixed, with the Nikkei shaving off 0.14% to 17,384 in Tokyo and the Hang Seng adding 1.12% to 24,111.98 in Hong Kong.

Later Wednesday, investors will be looking to the other side of the Atlantic, where several indicators are due out well before the European trading day finishes, including U.S. weekly jobless claims in the week to Nov. 22 as well as durable goods orders and new home sales in October.