Major stock markets in Europe closed Tuesday higher as investors processed new economic data. The Eurozone's GDP growth for the second quarter was reported at 0.3%, while France's annual inflation for July was confirmed at 2.3%. In the United Kingdom, inflation increased from 2% to 2.2% in July while producer prices remained unchanged. Market participants are closely monitoring these economic indicators and their potential impact on monetary policy and market stability.
The FTSE closed 0.56% higher with Hikma Pharmaceuticals PLC jumping 4.98%. The EURO STOXX 50 gained 0.67% as Ferrari went 4.00% up. The CAC 40 increased 0.79% with Hermes International SA advancing 2.06%. The DAX jumped 0.50% as Hannover Rueck climbed 2.29%.
The euro was 0.26% higher than the dollar at 5:30 pm CET, trading at 1.10227. The pound lost 0.16% to the US currency, going to 1.28416.