Europe opens higher despite weak data

Thursday, 25. November 2021 09:04

Equities on the major stock market indexes in Europe traded higher on Thursday despite Germany's underwhelming GDP and consumer confidence data alongside record COVID-19 figures. A corruption scandal is also brewing at the country's railway body Deutsche Bahn.

Meanwhile, the United States is looking to end sanctions on the Nord Stream 2 gas pipeline in order to ease pressure on Germany and Italy has tightened COVID-19 restrictions.

The DAX gained 0.26% as the session started, as RWE AG led the gains with a 1.28% increase. The CAC 40 moved up by 0.36% at the same time with Pernod Ricard adding 1.30%, while the FTSE 100 rose by 0.13% as Anglo American gained 1.22%. The euro gained 0.09% on the dollar, selling for $1.12157 at 8:58 am CET, while the pound added 0.13% compared to the US currency, going for $1.33478 at the same time.

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Author:
Baha Breaking the News (BBN) / IB