6/20/2022, 5:32 PM (Source: TeleTrader)
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Europe closes higher after ECB's remarks

Major stock market indexes across the European continent closed Monday's session with gains, after the European Central bank announced plans to raise interest rates by 25 basis points at its July monetary meeting, with the goal of bringing inflation down to 2%.

On the data side, the production in the Eurozone construction sector decreased in April, while producer prices in Germany climbed in May and surpassed market expectations.

The DAX added 1.06% or 130 points at the closing bell, with MTU Aero Engines AG jumping 5.64% at 5:32 pm CET. The CAC 40 gained 0.64% as Renault SA added 9.55%, while the FTSE 100 rose by 1.50% with International Consolidated Airlines Group increasing 7.44%

The euro gained 0.31% against the dollar to sell for $1.5300 at 5:30 pm CET, while the pound went up 0.20% at $1.22484.

Baha Breaking News (BBN) / TB