European Shares Rise as Spain Economy Shrinks Less Than Forecast

European stocks rose as Spain reported its economy shrank less than previously forecast in the first quarter.

The benchmark Stoxx 600 advanced 0.4 percent to 260.06 at 8:02 a.m. in London.

Spanish gross domestic product fell 0.3 percent, the same as in the previous three months, the Madrid-based National Statistics Institute said in an e-mailed statement today. That compares with the Bank of Spain’s estimate on April 23 of a 0.4 percent decline. From a year ago, GDP fell 0.4 percent, INE said.

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