2/5, 5:30 PM (Source: TeleTrader)
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Europe closes higher on coronavirus vaccine hopes

European markets closed with strong gains on Wednesday after British researchers said they reached a "significant breakthrough" in developing a vaccine for the coronavirus. Stocks were also boosted by better-than-expected PMI data from the Eurozone, Germany, and the United Kingdom.

The FTSE 100 rose 0.57% with Smith and Smurfit Kappa Group surging over 6%.

The DAX jumped 1.48%. Infineon pushed the index higher as its shares soared 10.58% after the chipmaker's quarterly earnings topped estimates.

The CAC 40 climbed 0.85%. Credit Agricole led the gains as it rallied 3.82%.

The euro fell 0.39% against the dollar to sell for 1.10014 at 5:31 pm CET and the pound lost 0.35% compared to the US currency to go for 1.29884 at the same time.

Breaking the News / NP