Europe closes higher on virus treatment progress

Monday, 24. August 2020 17:30

Shares on major European markets closed with sharp gains on Monday amid news that the United States Food and Drug Administration (FDA) authorized the use of blood plasma as a treatment for coronavirus patients.

With nothing on the economic calendar, investors monitored other virus-related news. US President Donald Trump is reportedly considering fast-tracking the experimental vaccine being developed by AstraZeneca and Oxford University.

The DAX closed 2.36% in the green as MTU Aero Engines led the gains. The CAC 40 jumped 2.28% at the end of trading in Paris with Renault as the top performer surging over 6%. The FTSE 100 climbed 1.71%; BT Group soared 7.07%. The euro was up 0.05% against the dollar at 5:40 pm CET, buying 1.18022. At the same time, the pound declined 0.10% versus the greenback to go for 1.30754.

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