Major European stock markets closed mostly higher on Wednesday amid the ongoing European Central Bank (ECB) Forum on Central Banking in Sintra, Portugal. The ECB is expected to lower its key interest rates in September after inflation hit the 2% goal. ECB's President, Christine Lagarde, had previously warned that the current worldwide "uncertainty" is likely to make "inflation more volatile."
At the closing bell, the DAX index increased by 0.32%, while the Euro Stoxx 50 rose by 0.68%, with BAY.MOTOREN WERKE AG being the best performer for both indexes, advancing by 5.02%. The CAC 40 advanced by 0.99% with ArcerolMital SA rising by 5.88%. The British FTSE 100 experienced a drop of 0.12%, with the worst performer being Berkeley Group Holdings PC dropping by 7.88%.
On the currency front, the euro traded 0.20% below the dollar at 5:34 pm CET, trading for $1.17838. At the same time, the pound dropped 0.97% against the dollar, exchanging for $1.36141.
