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3/11/2021, 5:36 PM (Source: TeleTrader)
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Europe closes higher on Lagarde remarks

Major European stock markets closed with gains on Thursday after the European Central Bank (ECB) confirmed it is keeping its key interest rates unchanged, with the deposit facility rate at -0.50%, the main refinancing rate at 0% and the marginal lending facility rate at 0.25%. The bank's President Christine Lagarde gave a speech noting that Eurozone's GDP is expected to grow 4% in 2021, while inflation will rise in the coming years, but will remain under the targeted 2%.

The DAX closed 0.20% higher led by Delivery Hero growing 3.90%. The FTSE 100 gained 0.12% as Just Eat Takeaway jumped 8.68%, while the CAC 40 advanced by 0.72% with ArcelorMittal climbing 4.68%.

The euro rose 0.33% against the dollar to change hands for $1.19648 at 5:38 pm CET. At the same time, the pound sterling increased by 0.24%, selling for $1.39671.

Baha Breaking the News (BBN) / LH