Europe closes higher as economies reopen

Monday, 25. May 2020 17:35

Major stock markets in Europe finished trading higher on Monday as the countries slowly are reopening their economies due to the falling number of COVID-19 infections. German Institute for Economic Research reported that its Business Climate Index stood at 79.5 compared to 74.2 in the previous month. Also, German Economy Minister Peter Altmaier said he is planning to give €50,000 per month to small companies in the country.

The DAX rose 2.87% with Bayer AG growing by 7.77%. The CAC 40 increased by 2.05% as Airbus went up by 8.39%. FTSE 100, which closed on Friday at -0.37%, will not be opening this Monday due to the Spring Bank Holiday.

The euro stood flat against the dollar, selling for $1.08973 at 5:34 pm CET, while the pound jumped 0.28% to 1.21989 a minute later.

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