8/24/2020, 5:30 PM (Source: TeleTrader)
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Europe closes higher on virus treatment progress

Shares on major European markets closed with sharp gains on Monday amid news that the United States Food and Drug Administration (FDA) authorized the use of blood plasma as a treatment for coronavirus patients.

With nothing on the economic calendar, investors monitored other virus-related news. US President Donald Trump is reportedly considering fast-tracking the experimental vaccine being developed by AstraZeneca and Oxford University.

The DAX closed 2.36% in the green as MTU Aero Engines led the gains. The CAC 40 jumped 2.28% at the end of trading in Paris with Renault as the top performer surging over 6%. The FTSE 100 climbed 1.71%; BT Group soared 7.07%. The euro was up 0.05% against the dollar at 5:40 pm CET, buying 1.18022. At the same time, the pound declined 0.10% versus the greenback to go for 1.30754.

Breaking the News / JC