10/25/2022, 5:36 PM (Source: TeleTrader)
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Europe closes mostly higher amid UK cabinet reshuffle

European markets closed mostly in the green on Tuesday as investors focused on the United Kingdom government reshuffle. Rishi Sunak was appointed prime minister earlier in the day and decided to keep Jeremy Hunt on as the chancellor of the exchequer and reappoint Dominic Raab as deputy prime minister and justice secretary, while several ministers, including Business Secretary Jacob Rees-Mogg and Minister of State at the Cabinet Office Alok Sharma, left their posts. Further cabinet appointments are expected soon.

The FTSE 100 closed flat.

The DAX climbed 0.94%. The best performers were Zalando and SAP as both companies' stock rallied more than 6%.

The CAC 40 soared 1.94%. Air Liquide, up 6.67%, led the gains.

The pound surged 1.91% against the dollar to go for 1.14922 at 5:37 pm CET and the euro rose 1.01% compared to the greenback to sell for 0.99751 a minute later.

Baha Breaking News (BBN) / NP