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European stock markets closed higher tonight (November 11) for the third day in a row, still supported by news of progress in the development of the COVID-19 vaccine. And a positive comment from the president of the European Central Bank (ECB), Christine Lagarde, who has helped to overshadow fears about the economic damage caused by the COVID-19 epidemic.
The Stoxx Europe 600 Index gained 1.08% to close at 388.56 points.
French shares of the CAC 40 index closed at 5,445.21 points, an increase of 26.24 points or + 0.48%, the German DAX stock market closed at 13,216.18, rose 53.07 points or + 0.48% , and the FTSE 100, the London Stock Exchange closed at 6,382.10 points, rose 85.25 points or +. 1.35%
European stocks were up 6% this week. Because investors flock to buy stocks that continue to rise less this year, like utilities. And travel groups While the rally in tech stocks followed the same group in the US.
The market has exploded this week. After Pfizer, an American pharmaceutical company, revealed that COVID-19 Vaccine 90% effective
There are also news reports that Spain, one of the countries most affected by COVID-19, will be vaccinated against COVID-19 The first batch early next year. And Italy is expected to receive 3.4 million injections of the vaccine in January. 2564
Markets rallied in response, Lagarde said, saying the ECB will pay more attention to buying emergency bonds. As well as offering low-interest loans to banks when the ECB considers further stimulus measures next month.
Capital Economist Economy said Ms Lagarde left clear signals that the good news about vaccines will not prevent the ECB from relaxing further in December. “
IAG shares, which are owned by British Airlines. British Airways gained 8.03 percent, French shares in Sanofi were up 3.05 percent and German shares in Infinian were up 2.41 percent.
