Europe’s gains pile up as recovery optimism grows
Shares on major European stock markets extended gains on Friday as investors’ hopes on economic recovery following the coronavirus crisis increase. The European Central Bank (ECB) ramped up the pandemic emergency purchase programme (PEPP) by €600 billion to €1.35 trillion to support the Eurozone’s economy while opting to hold interest rates.
Meanwhile, concerns over the pandemic started to fade across the continent. French Scientific Council President Jean-Francois Delfraissy claimed that the country now has the outbreak “under control,” writing off the possibility of imposing another lockdown due to the infection in the future.
The DAX soared 1.97% at 11:15 CET, while the FTSE 100 in London advanced 1.23% and the CAC 40 in Paris jumped 2.25% at the same time. The euro was flat at 11:17 am CET, going for $1.1334.
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