Europe closes higher as uncertainties subside

Tuesday, 24. November 2020 17:30

Shares on the major stock market indexes in Europe closed Tuesday's session with gains as investors focused on the latest developments in the field of COVID-19 vaccine research and production.

Adding to the sentiment, the General Services Administration (GSA) Administrator Emily Murphy informed United States President-elect Joe Biden that the Trump administration is ready to start the formal transition process. Biden later commented on the news, stating that the "election is over," and inviting the US institutions and citizens to "come together."

The DAX jumped 1.25% at 5:30 pm CET as Continental AG advanced by 6.23%. The CAC 40 gained 1.24% at the same time as Renault rocketed 7.65%. Meanwhile, in London, the FTSE 100 was up by 1.45% as BP plc improved by 7.77%. The euro strengthened 0.36% versus the dollar, selling for 1.18804 at 5:34 pm CET, while the pound sterling rose by 0.29% compared to the greenback, to go for 1.33568 a minute later.

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Breaking the News / BU