11/5/2020, 5:30 PM (Source: TeleTrader)
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Europe closes higher on recovery optimism

Stock markets in Europe closed in the green on Thursday after European Union Commissioner Johannes Hahn revealed that the EU Parliament and governments are expected to strike a deal on the bloc's next long-term budget on Monday. Also, two ECB Governing Council members noted that the latest lockdowns in Europe won't affect the economy as negatively as the first ones did in the spring. At the same time, economic data reports seemingly provided investors with additional reasons for optimism.

The DAX was up 1.92% at 5:30 pm CET with Delivery Hero advancing 7.86% at 5:29 pm CET. In London, the FTSE 100 increased by 0.33% at 5:29 pm CET as Rsa Insurance Group led the gains, rocketing 10.64% at 5:27 pm CET. The CAC 40 rose by 1.21% at 5:30 pm CET with Alstom, its best performer, jumping 4.19% at 5:36 pm CET.

The euro was 0.92% higher against the dollar, selling for 1.18196 at 5:29 pm CET, while the pound gained 0.86% compared to the greenback, buying 1.30985 concurrently.

Baha Breaking the News (BBN) / MS