5/23, 9:03 AM (Source: TeleTrader)
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DAX up 1.4% at open as Davos week starts

European markets traded with strong gains at the open on Monday with investors watching the World Economic Forum 2022 in Davos, to be held from May 23 to May 26. German Economy Minister Robert Habeck, Ukrainian President Volodymyr Zelensky, several prominent United States lawmakers, International Monetary Fund Managing Director Kristalina Georgieva and Bank of France Governor Francois Villeroy de Galhau will all be speaking throughout the first day of the meeting.

The DAX moved up 1.40% at 9:02 am CET as its best performer Delivery Hero advanced 2.62% at 9:05 am CET. London's FTSE 100 grew 1.01% at 9:00 am CET with retailer Kingfisher going up 4.42% and leading the gains at 9:02 am CET. The CAC 40 increased by 1.04% at 9:00 am CET, pulled up primarily by Renault's 2.34% rise at 9:02 am CET.

The euro rose by 0.39% against the dollar, selling at 1.06044 at 8:59 am CET. The British pound was 0.60% higher in comparison to the American currency, going for 1.25689 at the same time.

Baha Breaking News (BBN) / MS