Europe shares rise for 3rd day; BA, Iberia up
* FTSEurofirst 300 gain 0.2 pct
* Iberia, British Airways rise on merger news
* French, German Q3 GDP lower than expected
* For up-to-the-minute market news, click on [STXNEWS/EU]
FRANKFURT, Nov 13 (Reuters) - European shares advanced for a third day on Friday, as news that British Airways (BAY.L) and Iberia (IBLA.MC) are set to merge offset data showing German and French third-quarter GDP growth came in below expectations.
By 0930 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.2 percent at 1,017.12 points after hitting a three-week closing high in the previous session.
Shares in British Airways and Iberia gained 2.8 percent and 2.3 percent respectively after they announced on Thursday a preliminary agreement for a $7 billion merger to create the world's third-largest airline by sales. [ID:nLC092017]
The DJ STOXX European travel & leisure index .SXTP was the biggest sectoral gainer, up 1.2 percent.
But preliminary data showed that the third-quarter GDP of Germany and France grew at a slower-than-expected pace. [ID:nLC526067], [ID:nPAB008009]
"The market moves between hopes and fears. GDP data was weaker than expected, but investors will focus on consumer data from the U.S. later today," said Heinz-Gerd Sonnenschein, equity strategist at Postbank.
"Yesterday, volumes had been very low already and this continues today. One could almost say that we're in a pre-Christmas tranquility."
Across Europe, the FTSE 100 .FTSE index was up 0.1 percent, Germany's DAX .GDAXI was up 0.3 and France's CAC 40 .FCHI was 0.2 percent lower.
NATIXIS FALLS, VIVENDI UP Continued...
