Europe closes higher despite dragging data

Friday, 20. August 2021 17:30

Major stock markets in Europe closed the last trading session of the week on Friday with gains, despite upsetting data reports. Producer prices in Germany increased by more-than-expected 10.4% year-on-year in July with energy prices jumping 20.4%. Meanwhile, UK retail sales last month were down by 2.5% missing analyst estimates, however annually the figure grew by 2.4%. Investors are fearful that chip shortages and Delta variant spread could drastically affect the supply chains.

The DAX closed with 0.27% above the flatline with Infineon rising by 2.52%. The FTSE 100 was up 0.41% led by Jd Sports Fashion adding 2.87% and the CAC 40 gained 0.31% as Vivendi grew by 1.68%

The euro was flat against the dollar trading for $1.16813 at 5:29 pm CET, at the same time the British pound lost 0.14% exchanging hands for $1.36190.

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