Europe rises premarket amid COVID-19 developments.3 Mar 2020 07:04
Equities on European markets were higher in premarket on Tuesday after German and French finance ministers, Olaf Scholz and Bruno Le Maire, agreed yesterday to "act decisively" to combat the potential novel coronavirus (COVID-19) impact on their countries. Meanwhile, the United Kingdom is expected to announce a nationwide "action plan in response to" the outbreak later in the day.
Investors will also monitor Eurozone inflation, producer prices and unemployment rate figures set to be released early in the trading session.
Frankfurt's DAX advanced 1.05% at 8:00 am CET, while the FTSE 100 increased by 0.76% one minute later. In Paris, the CAC 40 rose by 0.86% at 8:02 am CET.
The euro was 0.09% higher compared to the dollar at 7:59 am CET, trading at 1.11457. The British pound gained 0.22% against the American currency, going for 1.27932 at the same time.
Breaking the News / MS