Europe opens in green on vaccine expectations

Tuesday, 08. September 2020 09:03

Major European markets opened in the green on Tuesday after positive news on coronavirus vaccine development. Russian Sputnik V COVID-19 vaccine entered circulation, while British Health Secretary Matt Hancock stated AstraZeneca's coronavirus vaccine is expected to be ready in the first months of next year.

In economic news, France National Institute of Statistics and Economic Studies (INSEE) revealed the country will face a 9% GDP drop in 2020, while Germany reported a foreign trade surplus at €18 billion in July.

The DAX traded 0.18% higher at the opening with Merck KGaA rising 1.48%. The FTSE 100 advanced by 0.51% with Scottish Morgage Investment Trust plc. climbed by 1.28% at 9:07 am CET. The CAC 40 gained 0.10% as Unibail-Rodamco-Westfield grew by 0.51% at 9:03 am CET.

The euro declined by 0.06% against the dollar to exchange hands for $1.18066 at 9:12 am CET. At the same time, the pound sterling decreased by 0.23% against the American currency to sell for $1.31361 at the same time.

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