6/13/2023, 5:35 PM (Source: TeleTrader)
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Europe closes higher as inflation prints show cooling signs

Major stock indexes in Europe closed with gains on Tuesday as annual inflation in Germany and the world’s largest economy, the United States, showed signs of deceleration. Meanwhile, the unemployment rate in the United Kingdom grew slightly quarter on quarter. Traders will now be turning to the European Central Bank’s monetary policy decision, scheduled for Thursday.

The DAX advanced 0.83% at the closing bell, with Covestro up 2.83%. Simultaneously, the CAC 40 rose 0.57%, as Teleperformance jumped 3.81%. The Euro Stoxx 50 finished off with a 0.72% gain, as Flutter Entertainment added 2.50%. At the close, the FTSE 100 grew 0.32%, with Glencore surging 5.28%.

The euro traded 0.35% above the dollar at 5:32 pm CET, selling for 1.07944. The pound rallied 0.86% against the greenback to go for 1.26098 at the same time.

Baha Breaking News (BBN) / AY