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7/3/2018, 5:35 PM (Source: TeleTrader)
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Europe closes with gains after German govt overcomes crisis

European stock markets finished the Tuesday trading session firmly in the positive territory after the German ruling coalition overcame its latest crisis late yesterday by reaching a deal on immigration that would tighten Germany's border with Austria and build border camps for asylum seekers. However, Austria responded by saying it is prepared to take measures to protect its southern border. Meanwhile, President of the European Council Donald Tusk urged EU leaders to prepare for the worst-case scenarios when it comes to the ongoing trade dispute.

The FTSE 100 gained 0.48% at the end of the session, with BT Group the best performer. At the same time, the DAX added 0.80% to finish the trading day well in the green, mostly thanks to RWE. Meanwhile, the main French index CAC 40 was up 0.74% at the closing bell, with Peugeot leading the gains.

The euro was up 0.15% against the dollar to sell for 1.1657 at 5:33 pm CET, while the pound added 0.31% versus the greenback to go for 1.3184 at the same time.

Breaking the News / FH