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5/5, 5:35 PM (Source: TeleTrader)
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Europe closes higher after data-packed week, ECB call

European stock exchanges wrapped the first week of May with gains following European Central Bank's policy decision and data releases.

The European Central Bank opted to raise interest rates by 25 basis points, marking smallest increase since it started its hiking cycle last year, as the core inflation rate in the region began to show signs of cooling. In addition, business activity in the euro area was seen to be improving gradually in April.

Frankfurt's DAX surged 1.42% or 222 points and the Euro Stoxx 50 soared 1.23%. Adidas AG was both performer for both indexes, skyrocketing by 8.90%. The CAC 40 jumped 1.31%, as Renault SA gained 4.40%. The FTSE 100 rose 0.98%, with Antofagasta plc climbing by 3.52%.

The euro was flat against the dollar, to sell at $1.10171 at 5:31 pm CET. The British pound added 0.46% versus the greenback, to change hands to $1.26307.

Baha Breaking News (BBN) / AB