9/28, 5:36 PM (Source: TeleTrader)
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Europe surges at close as banks lead rally

Banks in Europe were among the biggest winners on the stock market on Monday, leading major indexes to close significantly higher. Before the closing bell, ECB President Christine Lagarde said the central bank is ready to react to all information on the state of the economy, including the exchange rate and its implication for medium-term inflation.

The FTSE 100 closed 1.46% in the green as HSBC surged 8.89%. The DAX jumped 3.22%, with Deutsche Bank rising 7.35% and the CAC 40 gained 2.40% as Arcellormittal led the gains, skyrocketing 10.92%.

The euro was 0.23% higher compared to the dollar, going for 1.16574 at 5:43 pm CET. The pound traded 0.90% higher compared to the greenback, changing hands for 1.2860 at 5:44 pm CET.

Breaking the News / VP