1/16, 5:32 PM (Source: TeleTrader)
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Europe closes higher ahead of Davos 2023

Stock markets in Europe closed in positive territory on Monday amid comments from German Finance Minister Christian Lindner that the global economy has been dealing "much better than expected" with the energy crisis, inflation, and high-interest rates. Furthermore, Marks & Spencer Group plc (M&S) announced it would open 20 large stores in the United Kingdom, creating over 3,400 jobs. Meanwhile, political and business leaders gathered in Switzerland for the World Economic Forum in Davos.

The DAX gained 0.31% at the close, as Zalando SE jumped by 4.20%. The FTSE 100 advanced by 0.20%, with Ocado Group surging by 5.05%. The CAC 40 gained 0.28% as Carrefour went up by 4.59%. The European Stoxx 50 rose by 0.15%, with Vonovia SE advancing by 3.66%.

The euro dropped 0.10% against the dollar at 5:29 pm CET to sell for $1.08218. At the same time, the pound sterling decreased by 0.23% against the dollar to change hands for $1.22050.

Baha Breaking News (BBN) / KB