BRUSSELS (dpa-AFX) - European markets ended mostly higher on Tuesday, with traders indulging in some late buying ahead of the crucial vote on British Prime Minister Theresa May's Brexit plan.
Meanwhile, it is widely expected that May will lose the vote, with some analysts predicting one of the biggest defeats for any British government.
After a steady start, markets retreated and some even slipped into negative territory, but gained in strength towards the closing minutes.
Markets gained today despite a report from Germany's Federal Statistical Office showing the largest economy in Europe grew at the slowest pace in five years in 2018.
The pan-European STOXX 600 settled higher by about 0.3 percent, after having declined 0.6 percent in the previous session.
The U.K.'s FTSE finished higher by about 0.6 percent, Germany's DAX closed 0.33 percent up, while France's CAC 40 ended with a gain of 0.58 percent. Switzerland's SMI ended higher by 0.69 percent.
On Tuesday, The U.K.'s FTSE finished 0.91 percent down and Switzerland's SMI ended lower by 0.79 percent. Germany's DAX closed 0.3 percent down, while France's CAC 40 ended with a loss of 0.39 percent.
Turkey's BIST 100 ended stronger by 1.22 percent. Spain, Portugal, Norway, Netherlands and Austrial ended higher. Italy and Sweden edged down marginally.
In Italy, bank stocks weakened on reports that the European Central Bank may ask Rome's lenders to set aside further capital to deal with impaired loans. Major Italian bank stocks Ubi Banca and Banco BPM declined sharply.
In the U.K. market, Rolls-Royce Holdings, 3I Group and Sage gained 2 to 2.7 percent. InterContinental, BAE Systems, Micro Focus and Land Securities were among the other prominent gainers.
In the German market, Heidelberg Cement, Wirecard, Merck, Fresenius ST, SAP, Deutsche Boerse and Infineon gained 1 to 2 percent.
In France, Capegemini surged up 3.75 percent. Airbus Group gained 2.7 percent and Safran advanced by 2.1 percent. Engie, Sanofi, Peugeot, Pernod Ricard, Technip and ST Microelectronics were among the other notable gainers.
According to data released today, Germany's gross domestic product rose a price-adjusted and chain-linked 1.5 percent from 2017, when it expanded 2.2 percent. Growth was the weakest since 2013, when the economy expanded 0.5 percent.
The reasons for slower growth included a weaker global economy and poorer sales in the automobile industry due to the implementation of the new WLTP emission tests regime, the Economy Ministry said.
The German economy shrunk for the first time since early 2015 in the third quarter and at the fastest pace in nearly six years, mainly due to weak exports and car sales.
GDP fell 0.2 percent quarterly, marking the worst decline since the first quarter of 2013. Another contraction in the fourth quarter would mean the biggest euro area economy slipped into a technical recession, which is two consecutive quarters of negative growth.
A report from Eurostat showed eurozone's merchandise trade surplus decreased strongly in November, as the growth in imports outpaced that of exports.
The trade surplus fell to EUR 19 billion from EUR 23.4 billion in the same month last year, the report showed. Exports increased 1.9 percent year-on-year and imports rose 4.7 percent. Trade within the euro area grew 1.5 percent year-on-year.
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