Europe closes higher amid virus cure expectations

Friday, 10. July 2020 17:30

Major European indexes closed higher on Friday amid the reassuring data from Gilead Sciences regarding remdesivir, the company's candidate drug for the treatment of COVID-19. According to the report released earlier today, remdesivir could reduce the mortality rate among the coronavirus patients by 62%.

Earlier, European Council President Charles Michel revealed his plan to propose the fund worth €750 billion to combat the effects of the coronavirus in the EU, and a new budget for the period from 2021 to 2027 worth €1.074 trillion.

The DAX jumped 1.09% at 5:30 pm CET as HeidelbergCement led the gains with a 5.09% increase. At the same time, the FTSE 100 gained 0.77% as Barclays Plc soared 5.18%. In Paris, the CAC 40 inclined by 1.01% at the closing bell, with STMicroelectronics as a top performer.

The euro rose by 0.23% against the dollar, selling for $1.13110 at 5:33 pm CET, while the pound increased by 0.31% versus the greenback, changing hands at $1.26457 at the same time.

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Breaking the News / BU