LONDON ( The Deal) -- European stocks rose on Tuesday after a report from Germany's Federal Statistics office showed that growth is gathering pace in Europe's largest economy.
The Statistics Office confirmed an earlier estimate that German GDP rose 0.1% in the third quarter compared to the previous quarter, boosted by strong household consumer spending.
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Separately, the OECD said that economic activity in the euro area is projected to recover slowly as confidence improves and uncertainty about banks' balance sheets declines. However, growth will remain weak because of still high public and private debt, tight credit conditions and high unemployment, the OECD said in its latest economic outlook released Tuesday morning.
On a global level, the OECD foresees a moderate improvement in growth over the next two years, picking up from 3.25% this year to 3.75% in 2015 and just below 4% in 2016.
Benchmark indices were all in positive territory across the continent, which the FTSE 100 up 0.14% in London at 6,739.22, the DAX 0.90% higher at 9.873.50 in Frankfurt, and the CAC 40 in Paris adding 0.45% to 4,388.22.
Lenders also fared well across the continent, with HSBC Holdings (HSBC) up 1.19% in London, and Crédit Agricole leading Paris higher with a 2.58% gain.