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8/19, 5:32 PM (Source: TeleTrader)
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Europe ends higher on economic stimulus hopes

Stocks in Europe closed with gains on Monday, boosted by hopes of stimulus and fiscal measures from major economies. Over the weekend, German Finance Minister Olaf Scholz said that the country would be ready to approve €50 billion more in spending if needed, while, the People's Bank of China (PBOC) announced a key interest rate reform to help reduce borrowing costs and support businesses affected by United States tariffs. Furthermore, European Central Bank's (ECB) Governing Council member Olli Rehn earlier noted the central bank will announce a "very strong package of policy measures" next month.

The FTSE 100 jumped 1.02%. The best performer was Ocado Group, whose shares soared 4.60%.

The DAX rallied 1.32% with Infineon surging 3.79%.

The CAC 40 climbed 1.34%. TechnipFMC and ArcelorMittal led the gains, rising 3.70% and 3.62%, respectively.

The euro added 0.04% against the dollar to sell for 1.10955 at 5:39 pm CET.

Breaking the News / NP