3/8/2021, 9:03 AM (Source: TeleTrader)
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Europe opens higher as vaccine output expands

Major European stock markets opened with gains on Monday as positive sentiment was pushed by the news that the European Union plans to double the monthly COVID-19 vaccine production by the end of the month.

On the data front, industrial production in Germany declined under the market estimates by dropping monthly 2.5% in January and 3.9% year-on-year. Meanwhile over the weekend, the United States Senate approved the long-awaited $1.9 trillion relief package.

The DAX rose 0.73% at the opening bell, with BMW going up 1.52%. The FTSE 100 climbed 0.71%, as HSBC Holdings traded 1.76% higher. The CAC 40 advanced 0.68%. Total SE was the top performer, increasing by 1.68%. The euro lost 0.21% against the dollar to go for 1.18906 at 9:06 am CET, while the pound stood flat at $1.38444.

Baha Breaking News (BBN) / ND