European Stock Markets Are On The Rise

European Stock Markets Are On The Rise

European stock markets entered the day with buying power mainly despite a hard fall in oil prices due to the effects of the Coronavirus outbreak. Right after the opening on the third trading day of the week, the Stoxx Europe 600 indicator index gained 0.7 percent to 327 points, and in Germany, the DAX 30 index increased by 0.9 percent to 10.338 points. In the UK, the FTSE 100 index increased by 0.7 percent to 5,678 points, the IBEX 35 index in Spain with a 0.4 percent premium, 6.660 points, the CAC 40 index in France with a 0.2 percent gain, and the MIB 30 index in Italy 1 percent, an increase of 16,613 points. The euro/dollar parity is trading at 1.0870 and the pound/dollar parity at 1.2320 levels. Despite the serious depreciation in oil prices, the recent developments in the coronavirus outbreak showed a favorable course, and the air in the markets also moved positively. Crude oil and gasoline stocks dropped to $ 10 after exceeding expected. The price of barrels of Brent oil is also trading at $ 17.5, reducing its decline with these current developments. On the other hand, hopes of slowing increases in coronavirus case numbers and continued vaccination developments have increased hopes that the worst levels in the outbreak will be overcome.