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MN: German economy logs modest GDP growth; stocks climb
 
By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- European stocks rose Tuesday, with German equities stretching gains after data confirmed modest quarterly growth for the eurozone's largest economy.

The Stoxx Europe 600 rose 0.4% to 347.09. The index on Monday rose 0.1%, but ended off session highs as Jens Weidmann, the president of Germany's central bank, said monetary policy has limits to boosting economic growth and that governments need to enact reforms in the labor and financial markets.

On Tuesday, Germany's Destatis statistics agency said gross domestic product rose 0.1% in the third quarter, aided by more spending by consumers. The agency earlier this month issued a preliminary GDP reading of 0.1% growth. The contraction in the second quarter was revised to 0.1% from a previous estimate of 0.2%. The report also backed a previous GDP-growth estimate of 1.2% in the third quarter compared with the year-earlier period.

Germany's DAX 30 index climbed 0.8% to 6,738.87, with utility RWE AG rising 2.9% and financial-sector heavyweight Deutsche Bank AG up 2.6%.

In Paris, the CAC 40 index rose 0.4% to 4,389.46, and the U.K.'s FTSE 100 edged up 0.1% to 6,738.52, with gains held back as shares of Kingfisher PLC dropped following a decline in profit and sales at the home-improvement retailer.

You're invited: A free evening event focusing on investing opportunities in Europe

Will you be in London on Dec. 3? Then you're invited to our MarketWatch Investing Insights event, "The worse Europe gets, the more you should invest."

Governments are in trouble, reform efforts have stalled, unemployment is climbing. The news from the eurozone is bleak, and investors are fleeing. But that's a mistake: The worse the economic data from Europe get, the more you should be buying. Why? Because actions by the ECB will boost asset prices and the stock market in particular. And, big exporters can grow sales. Lower costs and steady sales translate into higher profits and dividends. Join us for an evening of cocktails and conversation to explore these opportunities.

Our panel will be led by MarketWatch Columnist Matthew Lynn, a renowned financial journalist based in London and the author of "Bust: Greece, the euro and the Sovereign Debt Crisis." He'll be joined by Mark Hulbert, MarketWatch columnist and editor of the Hulbert Financial Digest.

This event is free, but RSVPs are required. It will be held Wednesday evening, Dec. 3, in London. For more information or to RSVP, send an email to marketwatchevent@wsj.com.

-Carla Mozee; 415-439-6400; AskNewswires@dowjones.com


Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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