The major European indices are closing the day higher after Germany passed their fiscal reform measures:

  • German DAX, +1.03%
  • France's CAC, +0.5%
  • UK's FTSE 100, +0.29%
  • Spain's Ibex, +1.58%
  • Italy's FTSE MIB, +1.31%.

The German Bundestag has passed CDU/CSU’s fiscal reform, with 513 votes in favor and 207 against. The package now moves to the Bundesrat for ratification on Friday, where it is expected to pass.

Source: Forex Live