European Markets Rally On GDP Reading

European markets rallied on Wednesday after data showed GDP rose more-than-expected in the 16 euro nations.

GDP rose 0.2 percents from the fourth quarter according to the European Union's statistics office in Luxembourg. Industrial production also jumped 1.3 percent in March, better than the 0.7 percent consensus.

The UK FTSE closed up 49.2 points, or 0.9%, to 5,383.5. The German DAX rose 145.8 points, or 2.4%, to 6,183.5. The French CAC rose 40.7 points, or 1.1%, to 3,733.9.