European stock markets closed higher on Wednesday, with Frankfurt’s Dax up almost 1% to 14,000 after Fed Chair Powell reiterated a commitment to the accommodative policy stance during his semiannual testimony before Congress. Sentiment was also lifted after latest data showed the German economy expanded 0.3% in Q4, much better than initial estimates of a 0.1% growth. On the corporate front, Lloyds profit beat forecasts and the bank also announced a dividend pay out. Sales from Reckitt Benckiser also surprised on the upside. Travel shares were among the top performers as countries are starting to ease COVID-19 travel restrictions. Historically, the Germany DAX 30 Stock Market Index reached an all time high of 14169.49 in February of 2021. The DAX Index is the benchmark index for the German equity market. It tracks the performance of 30 selected German blue chip stocks traded on the Frankfurt Stock Exchange, which represent around 80 percent of the market capitalization listed in Germany. The Index is free floating and has a base value of 1000 as of December 31, 1987.