European stocks stable as OECD economic data disappoints

Europe's primary stock indices are stable in trading today (February 19th), after key economic data revealed the international marketplace is still in a challenging situation in terms of the recovery.

The economies of the Organisation for Economic Co-operation and Development (OECD) contracted by 0.2 per cent in the final quarter of last year – the first decline for this group of predominantly wealthy nations since the beginning of 2009.

This highlights the continuing weakness the OECD countries have faced as the developed world grappled with the financial crisis.

One of the biggest drag factors on this figure was the eurozone, which shrank by 0.6 per cent, while Japan, the UK and US all declined or were stagnant over the three-month period.

Since the end of last year, there have been some positive developments, however, with some business improving in Europe suggesting improving confidence levels in the debt-addled region.

At 16:10 GMT, the pan-European DJ Eurostoxx 50 rose by 1.5 per cent to 2658.3 points.

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