Europe closes higher as EU approves tariffs reduction deal

Wednesday, 09. September 2020 17:30

Shares on major European markets closed with gains on Wednesday after the European Commission proposed a tariff reduction regulation to the European Parliament that would bring an additional €200 million per year in trade between the European Union and the United States. Meanwhile, European Council President Charles Michel asserted that the Withdrawal Agreement that was "concluded and ratified" by the United Kingdom and the European Union "has to be applied in full."

The DAX closed 2.19% in the green with Muenchen Ruekwers rising 4.23%. The CAC 40 jumped 1.54% at the end of trading in Paris. STMicroelectronics was the best performer increasing by 6.96%. The FTSE 100 climbed 1.62% as BT Group went north by 5.86%.

The euro was up 0.40% against the dollar at 5:26 pm CET, buying 1.18200. At the same time, the pound rose by 0.23% versus the greenback to go for 1.30118.

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