Europe rises at close amid inflation updates
Major European stocks closed deep in the positive territory on Wednesday as investors digested the latest batch of corporate earnings and inflation readings throughout the continent.
The session was also marked by news that the German government unveiled a €10 billion tax relief plan to support about 48 million residents affected by soaring living costs.
The DAX soared 1.23% or 165 points at the closing bell, while the FTSE 100 rose by 0.25%, and the CAC 40 gained 0.52%. The euro climbed 1.24% against the greenback to sell for 1.03427 at 5:34 pm CET, while the pound surged 1.42% to $1.22522.