4/20/2020, 5:40 PM (Source: TeleTrader)
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Europe closes higher as oil prices crash

European stocks closed mostly higher on Monday as investors focused on a drop in US oil prices and on slightly encouraging coronavirus statistics from Europe. Earlier in the day, German Chancellor Angela Merkel stated that it would be best to remain cautious of possible infections to avoid a second lockdown, while the UK said it would not ease restrictions yet.

The FTSE 100 was 0.19% up at 5:30 pm CET as Rentokil Initial plc gained 4.52% at 5:27 pm CET. The CAC 40 gained 0.65% at 5:39 pm CET with Vivendi up 3.93% at 5:27 pm CET. Germany's DAX increased 0.47% at 5:38 pm CET as Fresenius Medical Care jumped 3.92%.

The euro was flat compared to the dollar, going for 1.08732 at 5:38 pm CET. The pound lost 0.34% against the greenback to change hands at 1.2460 at 5:39 pm CET.

Breaking the News / VP