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6/27/2022, 5:31 PM (Source: TeleTrader)
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Europe closes mostly higher as fears on rate hikes ease

Shares on the major European stock market indexes ended the trading session mostly higher as fears of rate hikes eased on Monday after last week's volatile trading was marked by recession worries, while the European Central Bank warned of negative growth in the eurozone as inflation is expected to rise further.

The Group of Seven (G7) is expected to impose new sanctions against Russia during its summit in Germany while commodity prices rose in response to Europe's energy crisis.

The DAX closed the trading session gaining 0.52% with HelloFresh SE as its best performer jumping by 4.95%. London's FTSE 100 rose by 0.69%, with Antofagasta Plc soaring by 3.17%. The CAC 40 dipped in the red territory by 0.43%, with Safran SA pulling the index down by 1.99%.

The euro rose by 0.48% against the dollar, to go for $1.06115 at 5:33 pm, while the pound sterling was 0.34% higher compared to the greenback, selling at $1.23070 at the same time.

Baha Breaking News (BBN) / AB