3/9/2021, 5:31 PM (Source: TeleTrader)
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Europe closes higher after OECD predicts recovery

Major stock markets in Europe closed higher on Tuesday after the Organisation for Economic Cooperation and Development (OECD) predicted the rollout of vaccines against COVID-19 would provide a "major boost" to global economic recovery. French Minister of the Economy and Finance Bruno Le Maire asserted the Eurozone's rebound would be "quick." Meanwhile, the euro area's gross domestic product (GDP) saw a decline in the fourth quarter of 2020 but still landed above analysts' expectations.

The DAX closed 0.55% higher as Delivery Hero SE went up by 4.79%. The FTSE 100 rose by 0.33%, with Avast PLC improving by 5.81%. The CAC 40 advanced by 0.48% as Capgemini SE grew by 3.37%.

The euro gained 0.38% against the dollar to change hands for $1.18900 at 5:27 pm CET. At the same time, the pound sterling increased by 0.56% against the greenback, selling for $1.38957.

Baha Breaking the News (BBN) / JR