3/31, 5:30 PM (Source: TeleTrader)
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Markets in Europe surge at close after economic data

European stocks closed higher on Friday after market participants received the latest batch of data on economic growth and inflation.

During the day, Eurostat revealed in a preliminary report that inflation in the euro area is expected to be at 6.9% on a yearly basis in March. Also, in terms of data, investors learned that UK GDP grew by 0.1% in the last quarter of 2022, while inflation and retail sales in France and Switzerland rose by 5.6% and 0.3%, respectively.

The German DAX rose 0.76% at 5:30 pm CET, with Adidas being the best performer, up by 4.70%. At the same time, the French benchmark CAC 40 added 0.92%, while Worldline SA improved by 2.43%. Across the English Channel, the FTSE 100 rose by 0.24%, as EasyJet increased by 2.99%. Finally, the pan-European Euro Stoxx 50 improved by 0.77%.

The euro and the British pound were down by 0.39% and 0.13% against the US dollar at 5:28 pm CET, selling for $1.08630 and $1.23706 simultaneously.

Baha Breaking News (BBN) / JG