Europe Stocks Close Lower
European stock markets closed lower on Wednesday. London's FTSE 100 index was off 48.3 points, or 1.07%, to 4,464.1, even though Britain's first-quarter gross domestic product was revised to 0.7%, or 3.4% on an annualized basis, from 0.6%, or 3.0%, year-over-year. Gallaher was lower on brokerage downgrades. Exel was higher, boosted by bullish comments from both JP Morgan and Morgan Stanley. Ashtenne was higher after announcing plans to return capital to shareholders following the sale of some assets.
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