Europe closes in green with EU-UK talks, data in focus

Wednesday, 23. September 2020 17:30

Shares on major European stock markets in Frankfurt, London and Paris ended Wednesday's session higher as investors mainly focused on economic data as well as on talks between the European Union and the United Kingdom on the two sides' post-Brexit relations. EU chief Brexit negotiator Michel Barnier said he remained "determined" to reach the agreement, while Chancellor of the Duchy of Lancaster Michael Gove asserted the talks with the bloc are progressing, spreading optimism over avoiding a no-deal Brexit scenario.

On the data front, German consumer confidence improved in October compared to the month prior, the GfK unveiled, adding that "the consumer climate has stabilized despite rising infection figures and the increasing fear of tighter restrictions caused by the pandemic."

The DAX advanced 0.50% at the closing bell with Adidas jumping nearly 5%. At the same time, the CAC 40 rose 0.75% as Accor's shares grew almost 5% and the FTSE 100 surged 1.32% with JD Sports Fashion Plc. soaring more than 4%. The euro traded 0.22% lower against the greenback, changing hands for 1.16816 at 5:28 pm CET, while the pound added 0.13% at 5:32 pm CET to go for $1.27508.

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Breaking the News / GA