Europe opens higher after selloff

Wednesday, 21. April 2021 09:02

European markets opened with gains on Wednesday following a sharp selloff in the previous session on the back of coronavirus uncertainty as well as news of the United States reportedly considering lowering the amount of nicotine in cigarettes, leading to a drop in tobacco stocks.

The European Medicines Agency said that the Johnson & Johnson single-shot COVID-19 vaccine might be linked to rare cases of blood clots, however, the company intends to continue shipments to Europe as the regulator said the jab's benefits outweigh any potential risks. On the data front, the annual consumer prices index for the United Kingdom rose to 0.7% in March, up from 0.4% in February.

The DAX rose 0.33% in the first minutes of trading as Deutsche Bank led the gains in Frankfurt. The CAC 40 was up 0.22% at 9:01 am CET. Carrefour was the strongest performer, rising over 2%. The FTSE 100 gained 0.26% at the time, while engineering company Renishaw jumped 2.68%. The euro was down 0.09% against the dollar at 9:15 am CET, buying 1.20246.

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Breaking the News / JC