Major stock markets in Europe closed higher on Friday after the latest report showed a monthly drop in the Eurozone's trade deficit in May to €26.3 billion. Meanwhile, the European Commission approved a hydrogen technology project worth €5.4 billion to boost the European Union's "green and resilience agenda." In the field of business, the Volkswagen (VW) Group stated its sales of electric vehicles (EV) went up by 27% year-on-year in the first half of 2022.

The DAX advanced by 2.76% or 345 points at the close as Porsche Automobil Holding SE soared by 5.60%. The FTSE 100 rose by 1.58%, with Airtel Africa PLC rocketing by 5.08%. The CAC 40 grew by 2.12% as Renault SA surged by 6.83%.

The euro gained 0.80% to the dollar at 5:29 pm CET to sell for $1.00970. At the same time, the pound sterling went up by 0.40% to go for $1.18712.