12/13/2022, 5:36 PM (Source: TeleTrader)
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European markets close higher on US optimism

European equities closed with sharp gains on Tuesday after the latest consumer prices report from the United States. As the inflation rate in the world's strongest economy is subsiding, a notion that the Federal Reserve may tone down interest rate hikes soon affected markets across the globe.

The DAX closed with a 1.34% gain as Zalando increased by 6.33%. The FTSE 100 rose by 0.76% at the close, with its best performer Intermediate Capital Group up 5.26%. The CAC 40 advanced 1.42% at the end of trading, pulled up by Unibail-Rodamco-Westfield's 3.29% jump.

The euro was 1.09% higher against the dollar, going for 1.06515 at 5:34 pm CET. The pound was up 0.94% compared to the greenback, trading at 1.23858 at the same time.

Baha Breaking News (BBN) / MS