European stock exchanges closed the trading session on Tuesday above the flatline after struggling for direction at the opening bell. The positive sentiment was seemingly driven by the better-than-expected data on the region's consumer confidence offering some relief amid worries that the central bank could opt for another interest rate increase before the year ends.
The European Commission proposed a price cap on European gas, in an effort to control the raging prices across the euro area as the energy crisis mounts through the region ahead of the heating season.
Frankfurt's DAX rose 0.29% as Covestro AG jumped by 4.54%. The CAC 40 increased by 0.35% with TotalEnergies SE surging by 4.39%. London's FTSE 100 gained 1.03% as Harbour Energy Plc skyrocketed 7.05%.
The pound sterling was 0.41% higher against the dollar, selling at $1.18676 at 5:32 pm CET. At the same time, the euro advanced by 0.30% against the American currency, to change hands to $1.02717.
