Investors Focus on Davos Forum Speeches

Major European stock markets closed mostly higher on Wednesday, with investors closely following the World Economic Forum in Davos. Key figures, including ECB Governing Council member Francois Villeroy de Galhau, UN Secretary-General Antonio Guterres, and Spanish Prime Minister Pedro Sanchez, delivered impactful speeches. ECB President Christine Lagarde also made headlines by stating the ECB is prepared for significant rate cuts.

Market Movements

The DAX saw a 1.04% increase, led by Siemens Energy's 6.76% surge, while the FTSE 100 remained flat. The CAC 40 climbed 0.83%, with Renault advancing 3.13%. The Euro Stoxx 50 rose by 0.79%, with Adidas gaining 6.37%.

Currency Updates

The euro held steady against the dollar, trading at $1.04150 by 5:28 pm CET. Conversely, the pound experienced an 18% decline, selling for $1.23174 at 5:29 pm CET.