11/11/2022, 5:31 PM (Source: TeleTrader)
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Europe closes mostly higher after economic data

European stock exchanges closed the trading session on Friday mostly higher as market participants digested the latest batch of economic data in the region. The optimism was seemingly drawn from the European Commission's projection that the region's inflation to slow in the following year, with the bloc's gross domestic product expected to recover by the end of fiscal 2022.

The upward trend was seemingly prompted by the lower-than-predicted inflation rate in the world's leading economy the day before, which could slow the pace of interest rate hikes.

Frankfurt's DAX jumped by 0.56% as Zalando SE skyrocketed by 12.39%. London's FTSE 100 slipped by 0.78% with BAE Systems Plc diving by 7.90%. The CAC 40 rose by 0.58% as Teleperformance SE pulled the index up by 7.99%.

The euro surged 1.27% against the American currency, to go for $1.03267 at 5:27 pm CET. The pound sterling increased by 0.53% versus the dollar, to change hands to $1.17756 a minute later.

Baha Breaking News (BBN) / AB