Europe closes mixed on data, recovery news

Dienstag, 25. Mai 2021 17:35

Major stock markets in Europe closed mixed on Tuesday as investors digested the latest round of pandemic news and economic data reports. After reports came that Germany's GDP decreased 1.8% in the first quarter of the year, the Munich-based Institute for Economic Research (Ifo) reported that the sentiment among German businesses improved in May, even beating market expectations. Meanwhile, the European Union sent €14.1 billion to 12 member states to help with economic recovery after the pandemic, as the bloc announced that by the end of the week 50% of EU adults would have received at least one dose of the coronavirus vaccine.

The DAX closed the session 0.18% in the green, with Deutsche Wohnen rising 15.80%. The CAC 40 decreased 0.27% as Michelin fell 2.73%. The FTSE 100 was down 0.31%, with Anglo American plc dropping 2.55%.

The euro increased 0.17% against the dollar at 5:34 pm CET trading for $1.22354, while the pound decreased 0.21% against the American currency trading for $1.41270 at the same time.

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