European stocks surge at close, DAX up 2%

Wednesday, 05. May 2021 17:30

European equities closed with sharp gains on Wednesday following a session marked by corporate earnings and economic data.

According to the latest report on the euro area's economic activity, the services sector expanded last month while the IHS Markit final composite PMI reading also came in higher for April. Meanwhile, Stellantis reported net revenues of €34.3 billion in the first quarter of 2021. In other news, Pfizer is reportedly set to receive approval for use of its coronavirus vaccine among children in Canada.

The DAX closed 2.12% in the green as Covestro and Deutsche Post led the gains in Frankfurt. The CAC 40 rose 1.40% at the close with Stellantis surging 6.71% following the release of the company's earnings. The FTSE 100 climbed 1.68%; as mining companies soared. The euro declined 0.12% against the dollar at 5:45 pm CET, buying 1.19999.

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Breaking the News / JC