Europe opens higher on earnings, data

Mittwoch, 05. August 2020 09:01

Major European stock markets opened higher on Wednesday as the effects of the coronavirus pandemic on the economy take center stage in today's session. Allianz, BMW, and Commerzbank all reported declines in their revenues in the second quarter of the year. Traders are now waiting for reports on the July service sector performance for Germany, Eurozone, and the United Kingdom.

The DAX traded 0.67% higher at the opening with MTU Aero Engines NA going up by 3.68%. The FTSE 100 gained 0.73% as Polymetal International PLC surged 5.76%. The CAC 40 advanced 0.61% with Vinci growing 1.77%.

The euro increased by 0.17% compared to the dollar, with the exchange rate of 1.18235 at 8:57 am CET. At the same time, the pound sterling rose by 0.14% against the greenback to sell for $1.30909.

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Breaking the News / JR