11/4/2021, 5:31 PM (Source: TeleTrader)
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Europe closes higher on rates, tapering decisions

Major European stock indexes closed higher on Thursday, consolidating record highs at the open for the DAX and CAC 40 following major earnings reports. Investors further responded to the Bank of England's decision to hold interest rates and end quantitative easing, as well as the United States Federal Reserve's tapering announcement.

Meanwhile, UK construction activity improved in October. Eurozone producer prices were up 2.7% for September but services sector growth slowed in October.

The DAX closed 0.44% in the green led by Zalando SE jumping by 4.51%. The FTSE 100 rose by 0.43% led by BT Group soaring 11.01%, while the CAC 40 increased by 0.53% with Veolia Environnement growing 4.45%. The euro dived 0.56% against the US dollar to exchange hands for $1.15470 at 5:28 pm CET, while the British pound plunged by 1.33% to sell for $1.35048.

Baha Breaking News (BBN) / IB