European equities rose at close of trading today, Thursday 13 October, following news that the UK government intends to make changes to its financial plans and with the release of economic data.
At the end of the session, the STOXX600 index rose by 0.85% to 389 points.
While the UK FTSE index rose 0.35% to 6850 points, and the French CAC rose 1% to 5879 points, while the German DAX closed the session up 1.5% to 12355 points .
Shares of travel and entertainment companies led the European Exchange’s gains, up 3.9%, while shares of food and beverage companies fell 1%.
Reports of a possible change in the British government’s plan
Kwasi Quarting, UK finance minister, commented on reports that there is a possible change in the government’s fiscal plans as it is fully focused on achieving the growth plan.
Reports also indicated that the Lees Terrace government may make some changes to the tax cut plan.
These reports pushed the pound higher by more than 1%.
Economic data
Economic data in Germany today revealed that inflation rose to 10% in September, up from 7.9% in the previous August.
In America, economic data showed a slowdown in inflation last month to 8.2%, the lowest level in 7 months, but at the same time a higher than expected level of 8.1%.
