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6/11, 5:35 PM (Source: TeleTrader)
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Europe closes higher as inflation fears subside

Major stock markets in Europe closed Friday's trading session higher, as traders were bolstered by the recent news concerning inflation. Officials from the European Central Bank (ECB) noted that policies were working, following the news that the ECB was keeping its interest rates at the same level. Meanwhile, the United Kingdom's Rishi Sunak called the country's rise in the GDP promising, and the UK Prime Minister Boris Johnson was optimistic about global economic recovery at the opening of the G7 summit.

The DAX closed 0.78% in the green, with BMW increasing 2.04%. The FTSE 100 ended 0.68% higher, as Melrose Industries plc rose 3.17%. The CAC 40 increased 0.84%, with Renault climbing 6.93%.

The euro declined 0.57% against the dollar trading for $1.21023 at 5:42 pm CET, while the pound dropped 0.44% selling for $1.41148 a minute later.

Breaking the News / OL