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European shares inch higher, Wirecard surges

Posted on July 13, 2020 by admin

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June 29 (Reuters) – European shares edged higher on Monday as investors clung to hopes of a quicker economic recovery in the continent even as coronavirus cases surged globally.The pan-European STOXX 600 index increased 0.2 %after opening at a loss, lifted by automakers and travel & leisure companies.European markets have actually surpassed in the current weeks, helped by its relative success in resuming its economy and the European Union’s proposed 750 billion euro($841.73 billion) recovery fund.However, Asian markets were on a weaker footing as the global death toll from COVID-19 reached half a million people on Sunday, according to a Reuters tally.German scandal-hit payments company Wirecard surged 93.6%after saying it would continue with service activities after declaring insolvency.Austrian sensor producer

AMS jumped 6.6%after Reuters reported the company is poised to get the consent from the European Union for its acquisition of German lighting group Osram.

(Reporting by Sruthi Shankar in Bengaluru; Modifying by Saumyadeb Chakrabarty ) Source

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