Europe closes higher as data, China drive bullish sentiment

Monday, 09. January 2023 17:31

European stock markets closed higher on Monday following the release of a series of better-than-expected data and positive assessments after China's decision to fully reopen the country.

The DAX gained 1.25% or 182 points at the close, with Sartorius AG up by 5.48%. The CAC 40 added 0.68%, while STMicroelectronics improved by 5.16%. The FTSE 100 rose 0.33%, as EasyJet increased by 4.90%. The Euro Stoxx 50 grew 1.46%, with A SML Holding closing higher at 6.36%.

Earlier, the Federal Statistical Office Destatis said that industrial production in Germany rose by 0.2% last November month on month. Meanwhile, investor confidence in the whole Eurozone improved further in January, coming in at negative 17.5, and unemployment came in at 6.5%.

The reaction also hit the currency front, as the euro rallied against the dollar, reaching highs not seen since June 2022. At 5:27 pm ET, the euro was up by 0.95% against the dollar selling for $1.07468, and the British pound increased by 0.87% to go for $1.22001 simultaneously.

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