Europe closes higher on positive economic sentiment

Thursday, 02. September 2021 17:32

Major equity markets in Europe closed higher on Thursday as investors reacted to positive indicators of strong economic recovery. The key focus was around US employment data that revealed the lowest amount of initial jobless claims registered since March 14, 2020. However, Eurozone's producer prices rose by 12.1% and the producer inflation hovered around 2.3%.

Earlier, European Central Bank decided to keep interest rates unchanged until 2025 and continue its supportive bond-buying program at least until 2024. Meanwhile, Italian Prime Minister Mario Draghi described his country's economic growth as better-than-expected.

The DAX gained 0.10% led by Covestro jumping 3.30%. The FTSE 100 grew by 0.20% as Melrose Industries increased by 7.19%, while CAC 40 rose by 0.06% with Stellantis adding 1.77% The euro advanced by 0.18% against the dollar exchanging hands for $1.18618 at 5:30 pm CET, at the same time the British pound soared by 0.41% to sell for $1.38259.

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Breaking the News / LH