Europe opens higher despite coronavirus concerns

Wednesday, 19. February 2020 09:00

European equities traded with gains at the open on Wednesday even though the newest information regarding the coronavirus weren't encouraging. The death toll from the virus-related diseases rose above 2,000 nationwide while the number of confirmed cases topped 74,000. The World Health Organization asserted that the vaccine for coronavirus will be ready in 12-18 months. Meanwhile, Deutsche Telekom reported its quarterly earnings saying its revenue rose by 6.4%. investors are also waiting for the Eurostat to release its construction output results, as well for the British National Statistics to report on consumer price index and producer price index as well.

The DAX added 0.41% in the first moments of trading with Deutsche Telekom AG among the top performers rising by 1.98%. In Paris, the CAC 40 advanced 0.50% The FTSE 100 gained 0.58% led by Vodafone Group that went up by 0.24% at 9:11 am CET.

The euro was flat against the dollar at 9:02 am CET, buying 1.10799 while the pound was flat as well, going for 1.30042.

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Author:
Baha Breaking the News (BBN) / TF