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3/31, 5:31 PM (Source: TeleTrader)
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Europe closes higher on IMF's new lending plan

Shares on the European markets traded higher at the close on Tuesday as the International Monetary Fund (IMF) revealed its new lending plan aimed at mitigating the effects of the coronavirus outbreak. As the number of COVID-19 cases surpassed 800,000 worldwide, European Commission's President Ursula von der Leyen called on preserving democratic values within the European Union despite the pandemic crisis.

The DAX gained 1.14% at the close, as HeidelbergCement AG gained 5.33%. The FTSE 100 finished 1.80% higher, with Imperial Brands PLC surging 11.81%. The CAC 40 increased by 0.30% at the closing bell. Publicis Groupe led the gains, soaring 11.87%. Overall, the European markets finished their worst quarter since 1987.

The euro lost 0.46% versus the dollar to go for $1.09956 at 5:35 pm CET, while the pound concurrently gained 0.23% compared to the greenback to sell for $1.24488.

Breaking the News / ND