DAX closes 450 pts higher as coronavirus crisis fades

Wednesday, 03. June 2020 17:30

Stocks on European markets soared at the close on Wednesday as countries continued restarting business activities, signaling the coronavirus crisis may be near its end. Germany decided to remove travel restrictions for most European countries from June 15, while London City Airport announced it will open its runway for domestic flights by the end of June. In business news, Renault finalized the agreement for a €5 billion state-guaranteed loan.

The DAX jumped 3.88% or 466 points at the closing bell, as MTU Aero Engines climbed 9.05%. The FTSE 100 ended 2.61% higher, with Rolls-Royce Holdings rising 9,25%. The CAC 40 finished the trading day by surging 3.36%. Renault was among the biggest gainers, with its shares advancing 10.49%.

The euro gained 0.69% against the dollar to sell for $1.12479 at 5:40 pm CET, while the pound concurrently rose 0.48% versus the greenback to go for $1.26119.

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Breaking the News / ND