Europe opens higher ahead of data release

Thursday, 03. September 2020 09:01

Major European markets opened higher on Thursday after Sanofi and GSK announced they will start with human trials of their candidate vaccine against the coronavirus, raising hopes a cure for the disease will be found soon. Meanwhile, the French government approved a new stimulus worth €100 billion for economic recovery from the crisis caused by COVID-19.

Traders are also waiting for Germany's, the European Union's, and the United Kingdom's August results in services sectors, as well as for speeches that European Central Bank's Isabel Schnabel and Bank of England's Governor Andrew Bailey will deliver later in the day.

The DAX traded 0.70% higher at the opening with Covestro AG rising 2.90%. The FTSE 100 advanced by 0.11% as British Land Company PLC grew by 2.60%. The CAC 40 gained 0.97% with Publicis Groupe SA going up by 3.78%. The euro declined by 0.46% against the dollar to exchange hands for $1.18004 at 8:58 am CET. At the same time, the pound sterling decreased by 0.47% against the American currency to sell for $1.32886.

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Author:
Breaking the News / JR