European markets climb in early trade

Reported by AAP
Wednesday, April 25, 2012
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Europe's main stock markets have risen in cautious trade as British investors eagerly await news on whether the economy avoided a recession in the first quarter of the year.

In early trade on Wednesday, London's benchmark FTSE 100 index gained 0.35 per cent to 5,729.51 points, Frankfurt's DAX 30 advanced 0.49 per cent to 6,622.96 points and in Paris the CAC 40 won 0.25 per cent to stand at 3,177.22.

Britain's Office for National Statistics will on Wednesday publish its first estimate for gross domestic product for the three months to the end of March.

Market expectations are for slender GDP growth of 0.1 per cent but fears remain that the economy could have slumped back into recession - defined as two quarters of successive contraction.

The nation's economy shrank by a worse-than-expected 0.3 per cent in the final quarter of 2011.

"Despite the preoccupation with all things Europe this week, the UK will be in focus this morning ahead of the first iteration of UK first-quarter GDP, with hopes high that the UK economy will avoid a double-dip recession and return to growth," said CMC Markets analyst Michael Hewson.

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