Europe closes higher on uplifting data

Tuesday, 15. September 2020 17:30

Major European stock markets traded higher at the closing on Tuesday after rather uplifting economic results revealed earlier in the day. Hourly labor cost in the Eurozone rose by 4.2% in the year's second quarter, the economic sentiment in Germany jumped by 5.9 points in September, while the United Kingdom reported a record low number of job vacancies in the April-to-June period. Lastly, BioNTech SE and Pfizer Inc. announced they would receive nearly $450 million from the German government for their COVID-19 vaccine research.

The DAX traded 0.23% higher at the closing bell as Bayer AG grew by 3.07%. The FTSE 100 rose by 1.32% with Ocado Group PLC advancing 10.32%. The CAC 40 gained 0.35% with Kering increasing by 2.37%.

The euro lost 0.16% to the dollar to sell for $1.18472 at 5:26 pm CET. At the same time, the pound sterling stood flat against the greenback to exchange hands for $1.28522.

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Breaking the News / JR