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11/10/2020, 5:32 PM (Source: TeleTrader)
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Europe closes higher on vaccine rally

Stock markets in Europe closed in the green on Tuesday on investors' hopes that Pfizer finally came up with the effective coronavirus vaccine. Pfizer's partner, German biotechnology company BioNTech SE announced that it expects to apply for Emergency Use Authorization (EUA) for its COVID-19 vaccine candidate, BNT162, at the United States Food and Drug Administration (FDA).

The DAX was up 0.82% at 5:30 pm CET with Volkswagen AG rising by 5.38%. In London, the FTSE 100 increased by 1.93% at the close. Bt Group Plc was the best performer jumping by 11.04%. The CAC 40 rose by 1.74% at the same time as Unibail- Rodamco rocketed by 19.18%.

The euro stood flat against the dollar, selling for 1.18181 at 5:30 pm CET, while the pound gained 0.49% compared to the greenback, buying 1.32246 concurrently.

Breaking the News / TF