2/12/2020, 9:02 AM (Source: TeleTrader)
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Europe opens higher on coronavirus developments

European markets opened higher on Wednesday after multiple Chinese officials claimed that the growth rate of the coronavirus declined to lowest since the end of January, while the recovery rate improved to 10.6%. The Eurozone industrial production data, set to be published early in the trading session, is also expected to grab the focus of traders. Meanwhile, the French luxury group Kering reported a surge of 16.2% in revenue in 2019.

The DAX was 0.33% higher at 9:02 am CET. Deutsche Bank AG was the best performer, jumping 2.45% at 9:06 am CET.

London's FTSE 100 advanced 0.19% at 9:00 am CET as NMC Health led the gains, adding 3.01% at 9:01 CET.

The CAC 40 rose by 0.16% at 9:00 am CET with Kering increasing by 3.43% at 9:04 am CET after posting better-than-expected earnings.

Both the euro and the pound traded flat against the dollar to sell for 1.09142 and 1.29640, respectively, at 9:02 am CET.

Baha Breaking the News (BBN) / MS