11/10/2022, 5:30 PM (Source: TeleTrader)
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Europe closes higher after US inflation report

Major stock market indexes in Europe closed higher on Thursday after the latest report on inflation in the United States showed a monthly decline that positively surprised analysts. The update encouraged investors, which led to rises in the stock market in the US, and the prices of oil and precious metals.

The DAX traded 3.59% or 490 points higher at the close as Zalando SE jumped by 13.75%. The FTSE 100 advanced by 1.31%, with Convatec Group PLC soaring by 9.07%. The CAC 40 increased by 2.06% as Unibail-Rodamco-Westfield SE surged by 8.32%.

The euro grew by 1.47% against the dollar to sell for $1.01580 at 5:27 pm CET. At the same time, the pound sterling rose by 2.70% against the greenback to change hands for $1.16563.

Baha Breaking News (BBN) / JR