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European Stocks Close Higher as Foreign Affairs, Trade Committees Back EU-UK Deal

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Last updated: 04/15/2021 12:25:50

12:25 PM EDT, 04/15/2021 (MT Newswires) -- European stocks ended higher on Thursday, as the European Union Foreign Affairs and Trade committees voted in favor of the trade and cooperation agreement between the bloc and the UK.

The European STOXX 600 closed up 0.5% while the French CAC 40 and the Swiss Market Index finished up 0.4% each. Meanwhile, the German DAX gained 0.3% at market close while the FTSE 100 increased 0.6%.

The European Parliament's plenary session has yet to make a final decision on the EU-UK deal. On Wednesday, the EU's Conference of Presidents decided not to set an official date.

The two sides identified 27 issues concerning Northern Ireland's post-Brexit trade relations, Ireland's Foreign Affairs Minister Simon Coveney said, according to a Reuters report.

On the economic data front, inflation in France grew by 1.1% and 0.6% on annual and monthly bases, respectively, in March, according to country's Federal Statistical Office. German consumer prices edged up 1.7% on a yearly basis in March, while it increased by 0.5% on a monthly basis, data from Destatis showed.

The German Federal Court ruled against the Berlin Rent Cap Act approved by the country's capital authorities in February 2020, saying it is "incompatible" with basic law.

Among companies, UK e-commece giant THG (THG.L) saw on Thursday its loss widen in its first set of annual results since going public in mid-September 2020, but the group was confident in its future performance, following a leap in revenue as consumers shifted to online shopping during the pandemic. THG shares declined 5.8% in London.

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