LONDON ( The Deal) -- Better-than-expected German factory orders and perpetual hopes of eurozone monetary stimulus boosted European stocks on Friday, even as Germany's central bank cut its growth outlook for Europe's largest economy.
Figures from the German government statistics office showed seasonally adjusted factory orders jumped by 2.5% in October from September, well above expectations for a 0.5% rise. Meanwhile, European Commission figures showed the eurozone economy expanded 0.2% quarter on quarter in the three months to September, and swelled 0.8% year on year, as expected. Separately, the Bundesbank slashed its German growth forecast to 1% next year, half the 2% growth rate it had predicted in June.
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Even though the European Central Bank failed to push the button on bond repurchases at a policy meeting on Thursday, ECB President Mario Draghi said the bank would reassess the situation early next year, keeping investor hopes alive of action as early as January.
In London, the FTSE 100 was up 0.57% at 6,717.31. In Frankfurt, the DAX climbed 1.21% to 9,970.07 and in Paris the CAC 40 jumped 1.13% to 4,372.63.
In London, oilfield services group Intertek Group led the FTSE 100 higher, rising well over 3%, after Deutsche Bank said the company looked like a good value after a decline in its share price because of plummeting oil prices.
Balfour Beatty (BAFYY) was up more than 4% after it rejected a 1 billion pounds ($1.6 billion) offer for a portfolio of state-backed projects from John Laing Infrastructure Fund Ltd.