European stock markets closed the trading day on Wednesday with sharply higher results, as traders eagerly anticipated the upcoming announcement of the Federal Reserve's interest rate decision later today. Earlier, the European Commission revealed higher tariffs on electric vehicles imported from China, joining the United States.
Investors also digested the newest reports on Germany's inflation, the United Kingdom's gross domestic product, industrial production, and trade balance.
At the closing bell, the German DAX added 1.42% or 260 points and the CAC 40 jumped by 0.97% with Heidelberg Materials climbing 4.44% within both indexes. Britain's FTSE 100 improved by 0.83%. Rentokil Initial PLC led the gains by skyrocketing 13.73%. The Euro Stoxx 50 went up 1.40% as Schneider Electric SE rose 4.76% at the same time.
The euro gained 1.03% to the dollar at 5:32 pm CET to sell for $1.08503. At the same time, the pound improved 0.78% compared to the greenback, changing hands for $1.28402.
