Europe higher premarket, DAX soars over 240 pts

Thursday, 05. May 2022 08:02

Major stock indexes in Europe traded higher in premarket on Thursday, after Fed's most recent decision to raise the benchmark interest rate by 50 basis points, its largest hike in the last two decades. Investors will be focusing on the Bank of England, which is set to share its interest rate decision later today.

On the earnings front, Unicredit, Credit Agricole, ArcelorMittal, Lufthansa, BMW and Societe Generale all released their reports for the first quarter of fiscal 2022.

DAX soared 1.75% or 246 points at 8:01 am CET, while CAC 40 jumped 2.21% at 8:00 am CET. FTSE 100 added 1.09% at 8:00 am CET.

The euro traded 0.07% lower against the dollar, selling for 1.06121 at 7:58 am CET, while the pound fell 0.64% against the greenback, to sell for 1.25538 a minute later.

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