EuroStoxx 50

Today's data summary

Market closed
% change
As of 19:16 07 Aug 2020

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European markets close higher

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European markets closed higher this afternoon following another day of investor optimism after the US Federal Reserve yesterday indicated a willingness to reduce the headline interest rate.

That echoed a similar message from the European Central Bank's Mario Draghi who said on Tuesday that the bank was ready to cut the cost of borrowing

And today, the Bank of England said it would keep rates flat at 0.75% but some analysts have said the UK could also be headed for a rate cut.

The pan-Euopean Euro Stoxx 50 closed up 0.4%, or 14 points, at 3,469. That was helped by gains in Germany, where the Dax was also up 0.4% - 47 points - at 12,355 when markets closed. The Cac 40 in Paris gained 0.3%, or 17 points, to finish the day at 5,536.

European markets tank on tariffs announcement

German Stock Exchange in Frankfurt
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The European markets have reacted badly to the Trump administration's announcement that it will impose steel and aluminium tariffs on the European Union, Canada and Mexico.

The DAX in Frankfurt has dropped 160.6 points or 1.3% to 12,623.30 and the EuroStoxx 50 has fallen 42.7 points or 1.2% to 3,397.25.