Europe closes higher as BoE holds rate

Thursday, 26. March 2020 17:30

European shares moved up at the close of Thursday’s session, as investors positively digested the Bank of England's decision to keep interest rates unchanged, which was in line with expectations. Meanwhile, all eyes were focused on the news from the United States, encouraged by the passing of the $2 trillion relief package by the US Senate earlier in the day.

The European Central Bank announced today it would activate the €750 billion Pandemic Emergency Purchase Program (PEPP) in order to help the member states in their effort to mitigate COVID-19 impact. Also, another report suggested that the members of the G7 are looking to invest several billion dollars to fund the Coalition for Epidemic Preparedness Innovations (CEPI), in order to help it develop a vaccine for COVID-19 disease.

The FTSE 100 closed 1.46% higher as Carnival Corporation jumped 9.40%, the DAX increased 0.95% with the SAP SE stock rising 5.01%, while the CAC 40 gained 1.52% driven by Airbus that surged 20.68%.

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