5/17/2022, 5:30 PM (Source: TeleTrader)
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Europe closes higher after economic data

Major European stock market indexes closed higher on Tuesday following economic data on the unemployment rate in the United Kingdom, while the gross domestic product report showed an increase of 5.1% in the euro area. Earlier today, Daimler Truck published its quarterly financial reports recording a 17% jump in revenue for the fiscal year.

The European Central Bank (ECB) discussed its key interest rates could increase by 50 basis points if inflation data proves it necessary. Meanwhile, Sweden and Finland will move forward with their NATO membership applications as European Union reaffirmed its support for Stockholm and Helsinki's candidacy in the alliance.

The DAX increased by 1.58% in the closing session on Tuesday with Daimler Truck soaring 6.23%. The CAC 40 rose by 1.19% as Engie SA gained 5.33%

London's FTSE 100 was up by 0.69% with Imperial Brands pulling the index up by 7.88%. The euro traded 1.02% higher against the dollar, selling at $1.05389 at 5:35 pm CET. The pound was 1.28% higher against the dollar, going for $1.24767 a minute later.

Baha Breaking News (BBN) / AB