Europe closes in green, DAX rises 3%

Friday, 20. March 2020 17:31

European shares ended Friday's session higher, as the DAX gained 259 pts. Economic data today showed that the producer prices in Germany dropped by 0.1% in February.

In a continuous effort to fight coronavirus pandemic, the European Central Bank announced today it will provide further flexibility to banks regarding the treatment of loans backed by public support measures. At the same time, Germany was looking to introduce new economic measures by injecting at least €100 billion to support small businesses and self-employed citizens, sources close to the government told Handelsblatt on Friday.

The FTSE 100 inched 0.09% higher, the DAX increased 3.02% as Siemens AG rose 10%, while the CAC 40 jumped 4.33% at the same time.

The Euro traded flat against the dollar changing hands at $1.0686. The British pound surged 1.94% selling for $1.17106 at 5:35 pm CET.

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