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5/20, 5:31 PM (Source: TeleTrader)
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Europe closes higher on Wall Street's optimism

Major European equity markets closed with gains on Thursday as investors ditched concerns of increasing inflation and central banks' intentions to start tapering asset purchasing programs. ECB's Philip Lane stated the price increases are not "real inflation" and that there is a lot to be done for the inflation rate to successfully rise to the bank's goals. Meanwhile, European Commissioner for Internal Market Thierry Breton expressed Europe's dedication to funding bolstering semiconductor production.

On the vaccination front, European Commission President Ursula von der Leyen said the EU is on track to offer shots to 70% of all adults by the end of July. French Prime Minister Jean Castex also plans to announce the expansion of the national vaccination program, while the United Kingdom is ahead of schedule as well, planning to have all adults eligible for coronavirus jabs by June.

The DAX was 1.70% up at the closing bell, led by Fresenius SE rising by 3.92%. FTSE 100 gained 1% as Experian grew by 4.73%, while the CAC 40 climbed 1.29% with Teleperformance advancing by 2.72%. The euro was 0.29% higher against the dollar, trading for $1.22103 at 5:32 pm CET, at the same time the British pound increased by 0.34% exchanging hands for $1.41624.

Breaking the News / LH