9/13, 5:31 PM (Source: TeleTrader)
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Europe closes higher on recovery prospects

Major stock markets in Europe closed higher on Monday as investors reacted to optimistic signs of economic recovery. Germany's Ministry of Economy predicted the country's GDP to grow "significantly" in the third quarter. European Central Bank's Isabel Schnabel shared her estimates that the temporary rise in inflation will wear off as soon as next year.

On the coronavirus front, UK Prime Minister Boris Johnson said the government will take necessary steps to protect the country from another virus wave, but he does not rule out additional lockdowns. Meanwhile, British medical officials also recommended a Pfizer jab to children between 12 and 15 years old.

The DAX closed with 0.59% above the flatline led by Continental AG jumping 3.76%. The FTSE 100 climbed by 0.56% as Lloyds Banking Group added 2.74%, while CAC 40 grew by 0.20% with TotalEnergies gaining 3.06%. The euro remained flat against the dollar with 0.04% in the green and traded for $1.18160 at 5:32 pm CET. At the same time, the British pound advanced by 0.12% exchanging hands for $1.38466.

Breaking the News / LH