Europe closes higher after Macron, Lagarde remarks

Tuesday, 28. June 2022 17:31

Major stock markets in Europe traded with gains at Tuesday's closing bell after European Central Bank President Christine Lagarde said at the ECB Forum on Central Banking 2022 that inflation in the euro area is "undesirably high," attributing it primarily to the Ukraine crisis and global supply chain disruptions.

Furthermore, French President Emmanuel Macron stated at the G7 summit that the group must coordinate efforts in order to tackle the challenge of inflation, adding that the alliance must "find a common response" to the escalating energy shortage issue.

The DAX climbed 0.35% or 47 points at the closing bell, led by MTU Aero Engines' 3.51% soar. The FTSE 100 gained 0.90%, dragged up by Rolls-Royce Holdings PLC's 6.00% jump, while the CAC 40 rose by 0.64%, with its top performer, Safran SA, going up 3.88%. The euro declined 0.56% against the dollar to sell for $1.05240 at 5:27 pm CET, while the pound was down 0.64%, going for $1.21892.

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Author:
Baha Breaking News (BBN) / SP