Europe opens higher after US Fed's comments

Wednesday, 12. January 2022 09:03

Major stock markets in Europe opened higher on Wednesday after United States Federal Reserve Chair Jerome Powell stressed the central bank's readiness to raise interest rates to avoid a further surge in inflation. Later, Microsoft Corporation co-founder Bill Gates stated he expects the Omicron variant of COVID-19 will create "a lot of immunity" to the disease. Traders are now waiting for the newest report on the Eurozone's industrial production.

The DAX went up by 0.70% or 111 points at the opening as RWE AG increased by 1.24%. The FTSE 100 increased by 0.53%, with Sainsbury PLC advancing by 2.90%. The CAC 40 gained 0.80% as ArcelorMittal SA expanded by 1.41%.

The euro lost 0.07% to the dollar to sell for $1.13574 at 8:58 am CET. At the same time, the pound sterling stood flat against the greenback, going for $1.36277.

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