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European Stocks Close Higher As Traders Continue To Monitor Coronavirus Outbreak
Summary: On Monday European stocks closed higher after China’s central bank cut interest rates in an attempt to aid its economy during the coronavirus outbreak. The pan-European Stoxx 600 closed provisionally up more than 0.3% after reaching a record high earlier in the session. Autos grew 1.2% to take the lead in gains while tech stocks ...
On Monday European stocks closed higher after China’s central bank cut interest rates in an attempt to aid its economy during the coronavirus outbreak.
The pan-European Stoxx 600 closed provisionally up more than 0.3% after reaching a record high earlier in the session. Autos grew 1.2% to take the lead in gains while tech stocks bucked the risk-on trend to drop 0.3%.
The People’s Bank of China (PBOC) announced Monday that they would be providing medium-term funding of 200 billion yuan ($29 billion) to commercial lenders and dropped its main interest rate by 10 basis points to 3.15%.
By Ramsey Baker
Tags: China,pan-European Stoxx 600,Peoples Bank Of China,Stocks
Link: European Stocks Close Higher As Traders Continue To Monitor Coronavirus Outbreak [Copy]
