7/19, 5:38 PM (Source: TeleTrader)
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Europe closes higher amid US rate cut talk

European markets closed mostly higher on Friday, led by expectations of a rate cut in the United States after comments from the US Federal Reserve's James Bullard and John Williams. Meanwhile, data in the United Kingdom showed the country's budget deficit jumped over 32% in the first quarter and Germany's Chancellor Angela Merkel said she believes Germany is experiencing an economic slowdown because of global trade tensions.

The DAX gained 0.26% at 5:35 pm CET. Wirecard led the index higher, jumping 5.52%, after the company signed a deal with German supermarket Aldi to handle its card payments.

The FTSE 100 increased 0.21% at the end of the day.

France's CAC 40 was flat, gaining 0.03% at 5:35 pm CET.

The euro lost 0.50% compared to the dollar and traded at 1.12210 at 5:36 pm CET. The pound decreased 0.32% to 1.25039 against the greenback at 5:37 pm CET.

Breaking the News / VP