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European stocks close higher as traders monitor coronavirus


Monday, 17 February 2020 23:38 WIB

Saham Eropa


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European stocks closed higher Monday after China’s central bank cut interest rates in a bid to aid its economy amid the coronavirus outbreak.

The Stoxx 600 closed provisionally up more than 0.3%, with the pan-European benchmark hitting a fresh record high. Autos climbed 1.2% to lead gains while tech stocks bucked the risk-on trend to fall 0.3%.

The People’s Bank of China, or PBOC, announced on Monday that it would provide medium-term funding of 200 billion yuan ($29 billion) to commercial lenders and cut its main interest rate by 10 basis points to 3.15%.

The move is intended to shield the economy from the fallout of the coronavirus, which has now infected over 70,000 people and killed 1,770, according to China’s National Health Commission.

Source: CNBC


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