Europe opens higher amid data, Davos summit

Wednesday, 25. May 2022 09:02

Major stock market indexes in Europe opened higher on Wednesday after the latest reports on Germany's gross domestic product (GDP) and consumer confidence both showed at least slight rises, and ahead of the third day of the World Economic Forum (WEF) in Davos. Also, several economists, including European Central Bank (ECB) President Christine Lagarde, will give speeches on the current state of the economy, influenced heavily by Russia's military intervention in Ukraine.

The DAX opened 0.72% or 100 points higher as RWE AG went up by 2.56%. The FTSE 100 rose by 0.40%, with SSE PLC surging by 5.55%. The CAC 40 grew by 0.69% as Veolia Entertainment SA increased by 2.62%.

The euro lost 0.36% to the dollar to sell for $1.06981 at 8:58 am CET. At the same time, the pound sterling gained 0.16% against the greenback to go for $1.25523.

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