3/8/2021, 5:31 PM (Source: TeleTrader)
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DAX closes with record high, jumps 460 points

Major European stock markets ended the trading session on Monday with gains as vaccination rate increases and finance officials assure of upcoming recovery. European Commissioner Thierry Breton announced that the EU will double COVID-19 vaccine output, while the Head of the European Commission Ursula von der Leyen stated that outgoing shipments of doses may stop, if pharma companies continue to export vaccines while depriving Europeans of promised volumes.

Meanwhile, Andrew Bailey, the Governor of the Bank of England described the economic outlook as cautiously "positive", although he predicts the gross domestic product to be 12% below the pre-pandemic level. Nevertheless, he promised BoE to use its "full toolbox" in efforts to fight the crisis.

The DAX finished 3.43% in the green led by Linde PLC jumping 6.15%, while the FTSE 100 closed 1.44% higher as Rolls-Royce grew by 7.32%. The CAC 40 gained 2.23% with Unibail-Rodamco-Westfield soaring 8.32%. The euro lost 0.5% against the dollar to sell for 1.18567 at 5:34 pm CET, while the pound dropped 0.22% to $1.38140.

Baha Breaking News (BBN) / LH