Europe opens higher as Biden starts transition

Wednesday, 25. November 2020 09:02

Major European markets opened higher on Wednesday, as United States President-elect Joe Biden stated that the power transition process is on track. On the business front, Nestle decided to sell all of Yinlu's operations to Food Wise Co Ltd, while investors were also focused on yesterday's announcement that Tesla intended to make its future plant in Berlin the largest battery factory in the world.

As the trading session started, the DAX traded 0.33% in the green at 9:00 am CET, as MTU Aero Engines rose by 2.88% at 9:05 am CET. The FTSE 100 rose by 0.30% at 9 am CET, while Melrose Industries PLC increased by 5.42% at 9:15 am CET and the CAC 40 gained 0.38% at 9:03 am CET, as Orange grew by 1.65% at 9:20 am CET.

The euro increased by 0.16% against the dollar to go for $1.19117 at 9:00 am CET, while the British pound gained 0.13% concurrently, going for $1.33788.

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