Tuba Sahin
04 October 2022•Update: 04 October 2022
ANKARA
European stocks closed Tuesday with strong gains fueled by expectations of central banks to ease the pace of tightening.
According to Eurostat data on Tuesday, euro area producer prices rose 5% month-on-month in August, slightly above the market estimate of a 4.9% hike.
The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, jumped 3.12%, to close over 403.
The UK’s FTSE 100 increased 2.57%, to finish the session at 7,086. Germany’s DAX 30 gained 3.78%, to reach 12,670.
France’s CAC 40 was the best performer of the day, surging 4.24% to 6,039.7 at the closing bell.
Italy’s FTSE MIB climbed 3.35%, to 21,676. Spain’s IBEX 35 hiked 3.14%, to close at 7,696.
