Europe closes higher amid falling yields

Wednesday, 07. August 2019 17:30

European markets closed in the green on Wednesday amid a selloff overseas on Wall Street. Falling bond yields sent jitters through markets and propped up safe-haven assets, with gold jumping to its highest level in over six years.

Meanwhile, oil prices continued to struggle amid demand worries and a surprise increase in crude stockpiles. In earnings, E.ON, Commerzbank, and Unicredit reported their quarterly results.

The German DAX advanced 0.71% at the end of trading as Bayer surged over 6%. Meanwhile, the CAC 40 in Paris advanced 0.61% with EssilorLuxottica topping the chart. The FTSE 100 climbed 0.38%; online food delivery company Just Eat soared 6.82%. The euro gained 0.26% against the dollar at 5:45 pm CET, buying 1.12285, while the pound declined 0.09% versus the greenback, going for 1.21582.

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Author:
Breaking the News / JC