Europe closes higher after ECB, Lagarde's remarks
Major stock markets in Europe closed higher on Thursday after the European Central Bank (ECB) decided to keep the key interest rate the same and estimated the euro area's economy will be ready to relinquish the institution's asset purchase program (APP) in the third quarter. ECB President Christine Lagarde then stressed the bank's preparedness to make future decisions taking into account "optionality, gradualism and flexibility" and expressed some hope the prices could lower over the medium term.
The DAX traded 0.72% or 100 points higher at the close as MTU Aero Engines NA rose by 2.76%. The FTSE 100 grew by 0.40%, with Intercontinental Hotels Group PLC advancing by 4.13%. The CAC 40 went up by 0.91% as EssilorLuxottica SA gained 3.27%.
The euro lost 0.85% to the dollar at 5:28 pm CET to go for $1.07979. At the same time, the pound sterling declined by 0.44% against the greenback to sell for $1.30598.