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European shares traded higher on Friday with Germany’s airline company Lufthansa leading gains on the back of signs on movement in its stalled government bailout. The gains also came ahead of the European Council’s meeting to negotiate the EU recovery fund.
The European Council will have its first meeting to discuss a commission’s proposal to raise €750 billion worth of debt, adding from joint treasuries to be worth €1.1 trillion around 2021 to 2027.
The pan-European STOXX 600 index gained 0.5% at 0705 GMT, with Frankfurt stocks leading the rally.
Shares from Lufthansa gained 3.5% after Heinz Hermann Thiele, its major shareholder, reached out to politicians in Berlin to talk over the latest standoff over the company’s €9 billion ($10.1 billion) bailout.
New COVID-19 cases have been reported with around 400 workers in northern Germany testing positive on Thursday. Meanwhile, more new cases have been reported in several countries including the U.S. and China.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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