Europe closes in green after yesterday’s slump
European shares closed with gains on Friday, following Thursday’s slump amid worries over the coronavirus raging on in Europe and causing a slowdown of economic activity.
On the data front, German Destatis reported that the inflation in Germany rose 1.7% in February, while investors kept their eye on the developments in Italy, which is the hardest-hit country in Europe with COVID-19 outbreak.
In other developments, the United Kingdom government decided to postpone local and mayoral elections in England until next year as a result of the coronavirus outbreak, while French President Emmanuel Macron announced today that the Group of Seven (G7) leaders are scheduled to hold a video conference on Monday to discuss the further measures in order to counter an impact from the coronavirus outbreak.
The DAX closed the session up 0.73%, the CAC 40 rose 1.83%. At the same time, the FTSE 100 increased 1.65% as the session finished.
The euro fell 1.10% against the dollar at 5:38 pm CET, going for $1.10616. The pound was down 1.62% on the greenback at the same time, changing hands for $1.23659.
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