Europe closes higher amid Sunak news and economic data

Monday, 24. October 2022 17:31

European stock markets closed higher on Monday amid the latest news that Rishi Sunak will become the new UK PM and the release of new economic data.

Today, S&P Global revealed that the growth in Eurozone's manufacturing sector contracted in October, as Flash Germany PMI Composite Output Index fell deeper into the contraction territory in the same month. Meanwhile, in the UK, the Composite Output Index stood at 47.2.

At the close, the DAX gained 1.67%, with RWE AG up by 3.90%. The CAC 40 added 1.71%, while Michelin improved by 5.63%, and the FTSE 100 rose 0.75%, as SSE edged up by 4.00%. The euro was up by 0.14% against the dollar at 5:28 pm CET, selling for $0.98772. In comparison, the pound was flat to go for $1.12967 at the same time.

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Author:
Baha Breaking News (BBN) / JG