Europe closes mostly higher on economic recovery optimism

Tuesday, 24. August 2021 17:31

Major stock markets in Europe closed mostly higher on Tuesday as concerns over economic consequences of the Delta variant subside following full approval of the Pfizer COVID-19 vaccine by the United States Food and Drug Administration. US Federal Reserve stays in focus with global investors ahead of the Bank's Jackson Hole symposium and a decision on tapering the bond-buying program.

Traders are also keeping an eye on the G7 resolutions on Afghanistan and the implications that Taliban leadership could have on the global economy. Meanwhile, Germany's economy expanded by better-than-expected 1.6% in the second quarter of 2021, compared to the previous trimester, and was 9.4% higher than the comparable period of last year.

The DAX was 0.33% above the flatline as Delivery Hero jumped 5.68%. The FTSE 100 climbed 0.24% led by Whitbread PLC gaining 4.53%, while the CAC 40 dropped by 0.28% with LVMH losing 1.93%. The euro remained flat against the dollar with only 0.02% in the green trading for $1.17477 at 5:29 pm CET, at the same time the British pound added 0.03% exchanging hands for $1.27237.

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Breaking the News / LH