Europe closes with strong gains on COVID-19 drug hope

Friday, 17. April 2020 17:30

European markets surged into the close on Friday as hopes of an effective coronavirus treatment were ignited by Gilead Sciences. The American biotech company's drug remdesivir is reportedly producing positive results in a clinical trial on COVID-19 patients in Chicago.

Meanwhile, the United States and Germany have rolled out plans for easing some of the coronavirus protective measures, indicating the two large economies may be up and running earlier than previously thought.

The DAX soared 3.15% at the end of trading as Infineon led the gains. The CAC 40 jumped 3.42%; hospitality company Accor was the best performer, rising over 8%. In London, the FTSE 100 gained 2.82%; Flutter Entertainment rocketed over 15% to the top of the chart.

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Author:
Breaking the News / JC