Europe higher in premarket after heavy losses

Tuesday, 27. October 2020 07:41

European equities moved higher during premarket trading on Tuesday after suffering a selloff in the previous session.

The heavy losses, which hit Wall Street on Monday as well, came on the back of growing concerns over the coronavirus pandemic. In response to rising infection numbers, European governments began introducing stricter measures to contain the virus. Meanwhile, investors geared up for another batch of corporate earnings, including those of major drugmakers Merck, Pfizer and Eli Lilly.

The DAX was up 0.44% at 7:38 am CET, while the CAC 40 rose 0.06%. The FTSE 100 added 0.20%. At 7:40 am CET, the euro gained 0.20% against the dollar, buying 1.18337. The pound was up 0.11% versus the greenback to go for 1.30392 at the same time.

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