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Wednesday, May 8, 2024
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WorldEuropeEuropean stocks closed higher and Germany's DAX hit a record high

European stocks closed higher and Germany’s DAX hit a record high

– Published on:

The DAX index, which includes shares of Germany’s 40 largest companies, closed up 0.7% after hitting 16,331.94 points earlier in the day.

Europe’s Stoxx 600 index rose 0.7% at the close, posting the highest level in more than a year, and stocks of financial institutions topped the gainers.

Talks on raising the US debt ceiling appeared to be moving forward, with Democratic negotiators saying they had made “steady progress” towards reaching a deal to avoid government default.

But the chief Republican negotiator later said talks had broken down and the White House said a deal was still possible.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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