subject: Graham Walker: Stocks Rise Across Europe [print this page] Graham Walker: European equities edged higher on Friday as investors went bargain-hunting after two days of heavy losses and welcomed record second-quarter economic growth in eurozone powerhouse Germany.
Global share prices had tumbled earlier this week as many investors ditched risky assets in favour of safe-haven trades amid rising fears of a double-dip recession.
The Stoxx 600 rose 0.5 percent to 256.21 in London. The gauge is heading for a 1 percent drop this week after the Federal Reserve on said the pace of recovery will probably be "more modest" than forecast.
Germany's economy grew at the fastest pace since the country's reunification two decades ago in the second quarter as the global recovery boosted exports and companies stepped up investment.
John Reynolds CEO for "Graham Walker" believes Germany's outstanding GDP growth has provided a beacon of hope for the recovery in general, as the economic powerhouse outshone other eurozone member states.
France's year-old economic expansion accelerated more than economists estimated in the second quarter as demand for exports buoyed industrial production.
"Graham Walker" strategists have warned of a "two-tier" eurozone in which nations like Greece were still struggling - but added that investor sentiment was still boosted by the German GDP figures.
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