Europe opens higher after ECB's stimulus boost

Friday, 05. June 2020 09:01

Shares in Europe traded higher at the start of Friday's session, as the European Central Bank (ECB) announced it will increase its pandemic emergency purchase programme (PEPP) by €600 billion to a total of €1.35 trillion. ECB's President Christine Lagarde stated PEPP prevented "spiral downward in financial markets," adding it brings "more benefits than costs." Investors are also waiting for the United States nonfarm payrolls report to be released later in the day.

The DAX opened 1.14% higher as MTU Aero Engines rose 3.58%. The FTSE 100 also rose by 0.66% with Carnival PLC trading up 4.25%. The CAC 40 was up by 1.13% at the open. Airbus was on top of the gainers with 4.83% up.

The euro rose by 0.28% against the dollar, changing hands at $1.13701 at 9:03 am CET, while the pound increased 0.44% versus the greenback at the same time selling for $1.26508.

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