Europe closes higher amid Ukraine clashes, ECB input

Wednesday, 11. May 2022 17:31

Major stock indexes in Europe traded with gains at Wednesday's closing bell, as the Kherson region deputy chief Kherson region Kirill Stremousov revealed plans to appeal to Russian President Vladimir Putin with a request to become part of Russia.

On the economic front, European Central Bank President Christine Lagarde said that the crisis related to the COVID-19 pandemic and Russia's military intervention in Ukraine delivered a much greater shock to the euro area "because it unveiled "the underlying weaknesses in the institutional architecture of the union."

DAX increased 2.17% at the close, with Allianz surging 5.90%, while CAC 40 was up 2.50% at the same time, with its top performer, L'Oreal SA, jumping 4.81%. FTSE 100 was also rising 1.44% at the closing bell, led by Prudential PLC's 6.70% climb. The euro gained 0.21% against the dollar, selling for $1.05490 at 5:29 am CET, while the pound traded flat against the greenback, to sell for $1.23234 a minute later.

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