European shares gain on hopes of possible coronavirus treatment, upbeat ECB remarks


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European shares gain on hopes of possible coronavirus treatment, upbeat ECB remarks

On Wednesday, the 5th of February 2020, a raft of riant earnings’ reports alongside hopes of possible cure of coronavirus epidemic had heaved a majority of European bourses higher towards record closing highs. Apart from that, following Finnish industrial conglomerate Valmet and semiconductor manufacturer Infineon’s gains of more than 10 per cent on Wednesday’s (February 5th) European market closure, the regional pan-European STOXX 600 added 1.2 per cent to further extend its record-setting rally.

Meanwhile, referring to a development over coronavirus epidemic treatment alongside a number of robust earnings’ result, a deputy head of European equities at Aberdeen Standard Investment, Will James said on Wednesday’s (February 5th) market wrap-up, “It is driven by what we see around the coronavirus and more importantly, the reporting season so far has been pretty reasonable across a number of different sectors.

” Quoting statistics, on Wednesday’s (February 5th) market wrap-up, London’s FTSE 100 gained 0.57 per cent to 7,482.48, while London’s mid-capped index, FTSE Mid 250 soared 0.37 per cent to 21,520.00.

Besides, Frankfurt’s DAX extended its astounding rally on to Wednesday (February 5th) and winded down the day 1.48 per cent higher to 13,478.33, while French CAC 40 rose by 0.85 per cent to 5,985.40. Elsewhere in the Europe, Madrid’s benchmark IBEX 35 took a continental dive of 1.62 per cent to round off Wednesday’s (February 5th) market at 9.717.80, while Italy’s FTSE MIB mushroomed 1.64 per cent to 24,256.63.