7/18/2023, 5:36 PM (Source: TeleTrader)
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Europe closes higher with economy in spotlight

Stock markets in Europe were up at the close on Tuesday as traders looked for signals about what the European Central Bank will do in September after the expected interest rate hike next week. Inflation reports for the United Kingdom and the Eurozone could provide more evidence tomorrow about the progress central banks have or have not made against elevated prices in the region.

The DAX gained 0.35% at the close as its best performer Covestro advanced 5.56%. The FTSE 100 closed 0.64% higher. Ocado soared 18.85%. The CAC 40 was up 0.38% at the end of trading with Sanofi rising 1.89%. The EURO STOXX 50 closed with a 0.30% increase as Vonovia jumped 4.08%.

The euro declined 0.10% to $1.12264, while the pound was down 0.06% to $1.30645 at 5:34 pm CET.

Baha Breaking News (BBN) / MS