Europe closes higher on economic recovery optimism

Tuesday, 15. June 2021 17:30

Major stock markets in Europe closed with gains on Tuesday as investors expect the Federal Reserve meeting the following day to safeguard the implemented supporting policies since the economy is still in recovery mode. European Central Bank's official Olli Rehn said there is no sign of an increase in broader price pressures, but the slack remains high.

Data reports showed that Eurozone trade in goods rose to €10.9 billion, marking a significant increase from the €2.3 billion figure registered a year ago. Meanwhile, the US and EU came to an agreement to end the 17-year trade war between Boeing and Airbus aircraft producers by providing subsidies to the companies for the next five years.

The DAX closed 0.36% higher led by Siemens gaining 2.11%. The FTSE 100 grew 0.36% as Associated British Foods jumped 3.27%, while the CAC 40 rose by 0.35% with Air Liquide advancing by 2.61%. The euro remained flat against the dollar with only 0.05% in the green exchanging hands for $1.21265 at 5:28 pm CET. At the same time, the British pound slid by 0.15% to sell for $1.40903.

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Breaking the News / LH