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European Markets soar at close awaiting US stimulus bill

London Stock Exchange

Stocks across European markets surged at the closing bell on Tuesday with the Dax, the FTSE 100 and the CAC 40 each jumping over 7% to recover yesterday’s losses as investors await the coronavirus stimulus bill that is expected to be adopted by the United States Senate.

The number of infections surpassed 200,000 in Europe while it topped 400,000 globally. Spain confirmed over 6,600 new coronavirus cases while Germany reported that over 4,000 people were tested positive for COVID-19 in the past 24 hours, slowing down somewhat compared to yesterday’s increase.

Meanwhile, the finance ministers of G7 pledged to do “whatever necessary” to restore confidence and economic growth affected by the coronavirus pandemic.

The DAX soared 10.11% at the closing bell with Daimler going up by more than 27%, while the CAC 40 gained 7.63% at the same time. Meanwhile, the FTSE 100 in London closed the session jumping 7.48%.

The euro added 0.56% to go for $1.07878 at 4:38 pm GMT.