European markets close higher despite crisis concerns

Friday, 08. May 2020 17:31

Major stock markets in Europe finished trading higher on Friday after European Central Bank President Christine Lagarde warned that the Eurozone's GDP is expected to fall approximately 8% in due to the coronavirus-caused crisis. Meanwhile, the European Court of Justice said it alone had the jurisdiction to rule whether an act of an EU institution is contrary to bloc's laws in response to a German Constitutional Court ruling.

The DAX rose 1.41% with HeidelbergCement AG growing 5.61%. The CAC 40 increased 1.07% as Compagnie de Saint-Gobain S.A. advanced 4.52%. The FTSE 100 was closed for a public holiday.

The euro gained 0.19% against the dollar, selling for $1.08539, while the pound jumped 0.60% to 1.24364.

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