Europe closes higher on positive sentiment

Thursday, 29. July 2021 17:31

European major stock markets closed higher as recent data reports sparked optimism and earnings season showed strong results. The German unemployment rate fell by 0.2% to 5.7% compared to the month prior. Eurozone's economic sentiment reached a record high in July, despite the drop in consumer confidence. Meanwhile, the European Central Bank released a statement warning that it shouldn't come as a surprise if transitory inflation jumps over 2%.

The DAX closed 0.45% in the green led by Deutsche Bank advancing by 3.03%. The FTSE 100 grew by 0.88% with Rentokil Initial soaring 6.75%, while the CAC 40 rose by 0.37% as Danone gained 6.45%.

The euro jumped by 0.36% against the dollar to sell for $1.18870 at 5:29 pm CET. At the same time, the British pound climbed 0.48% exchanging hands for $1.39688.

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