11/18/2020, 5:31 PM (Source: TeleTrader)
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Europe closes higher on upbeat vaccine news

Stocks on the major market indexes in Europe traded higher as Wednesday's session came to a close with the investors' attention directed towards the latest developments on the COVID vaccine front.

While the coronavirus jab developed by the joint efforts of Pfizer Inc. and BioNTech SE showed a 95% success rate in preventing the virus, the CEO of CureVac noted that the pharmaceutical companies will likely enable a mass inoculation by the end of 2021.

The DAX jumped 0.52% at 5:35 pm CET with Deutsche Wohnen leading the gains with a 3.96% increase. The CAC 40 grew by 0.52% at the same time as Renault soared 4.64%. Concurrently, in London, the FTSE was up 0.31% with RSA rising 4.54%. The euro was flat against the dollar, selling for 1.18663 at 5:29 pm CET, while the pound strengthened 0.30% versus the greenback to sell for 1.32924 at the same time.

Baha Breaking News (BBN) / BU