8/18, 12:08 PM (Source: TeleTrader)
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Europe turns to gains following Eurozone inflation report

European markets edged higher on Thursday after being undecided at the opening. During the day, investors received the latest Eurozone inflation report, which came out as expected.

According to Eurostat, the annual inflation rate in the area rose by 0.3 percentage points in July compared to the previous month, reaching 8.9%. The highest annual rates were registered in Estonia (23.2%), Latvia (21.3%), and Lithuania (20.9%).

The DAX gained 135 points or 0.99% at 12:06 pm CET, while the CAC 40 added 0.68%, and the FTSE 100 rose 0.08%. The euro was down by 0.08% against the dollar at 12:07 pm CET, selling for $1.01712. In comparison, the pound grew by 0.17% to go for $1.20679 at the same time.

Baha Breaking News (BBN) / JG