7/29/2021, 5:31 PM (Source: TeleTrader)
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Europe closes higher on positive sentiment

European major stock markets closed higher as recent data reports sparked optimism and earnings season showed strong results. The German unemployment rate fell by 0.2% to 5.7% compared to the month prior. Eurozone's economic sentiment reached a record high in July, despite the drop in consumer confidence. Meanwhile, the European Central Bank released a statement warning that it shouldn't come as a surprise if transitory inflation jumps over 2%.

The DAX closed 0.45% in the green led by Deutsche Bank advancing by 3.03%. The FTSE 100 grew by 0.88% with Rentokil Initial soaring 6.75%, while the CAC 40 rose by 0.37% as Danone gained 6.45%.

The euro jumped by 0.36% against the dollar to sell for $1.18870 at 5:29 pm CET. At the same time, the British pound climbed 0.48% exchanging hands for $1.39688.

Baha Breaking News (BBN) / LH