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6/21, 5:30 PM (Source: TeleTrader)
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Europe closes higher after Lagarde's remarks

Major stock markets in Europe closed higher on Monday after European Central Bank (ECB) President Christine Lagarde noted the presence of inflation growth in the Eurozone due to an increased foreign demand for its goods and services. Meanwhile, Bank of Portugal Governor Mario Centeno stated the ECB's Pandemic Emergency Asset Purchase Programme (PEPP) is likely to remain active until March 2022 amid the still ongoing COVID-19 pandemic.

The DAX closed 0.95% higher as Volkswagen rose by 3.59%. The FTSE 100 advanced by 0.65%, with Ocado Group PLC increasing by 4.23%. The CAC 40 grew by 0.51% as Michelin SCA surged by 4.53%.

The euro gained 0.42% against the dollar to sell for $1.19137 at 5:25 pm CET. At the same time, the pound sterling went up by 0.83% against the greenback, changing hands for $1.39138.

Breaking the News / JR