European Stocks Rise, Frankfurt Market Hits New High

(London, July 2nd, CNA, Reuters) Europe's three major stock markets all closed higher today, with the Frankfurt stock market reaching a record new high. This was driven by an agreement reached by Germany's ruling coalition on large-scale tax, labor, and pension reforms aimed at revitalizing the sluggish economy and countering the rise of the far-right.

The London FTSE 100 index surged 174.53 points, or 1.67%, to close at 10652.87 points.

The Frankfurt DAX index rose 540.60 points, or 2.16%, to close at 25580.88 points.

The Paris CAC 40 index climbed 137.57 points, or 1.65%, to close at 8474.86 points. (Compiled by Yang Zhaoyan) 1150703

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