7/23, 5:31 PM (Source: TeleTrader)
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Europe closes higher on economic optimism

Major European stock markets ended the trading week with gains as investors were satisfied with positive data reports. Eurozone's private sector activity reached the highest benchmark in over 21 years, while the United Kingdom's retail sales went up by 0.5% since last month.

Overall, the trading week was described as volatile due to concerns over the spread of the Delta variant and its influence on the global economy, but the worries subsided as central banks announced their decision to continue pandemic-related supportive monetary programs.

The DAX closed with 1% in the green, led by Daimler gaining 5.45%. The FTSE 100 was up 0.85% as Intermediate Capital Group grew by 2.66%, while the CAC 40 rose by 1.35% with STMicroelectronics advancing by 2.91%. The euro remained flat against the dollar with only 0.04% in the red exchanging hands for $1.17656 at 5:29 pm CET. At the same time, the British pound lost 0.08% to sell for $1.37577.

Breaking the News / LH