August 26, 2020
(Reuters) – European stocks inched higher on Wednesday as hopes of additional stimulus for Germany and France outweighed worries about rising cases of COVID-19 across the continent.
The German DAX <.GDAXI> rose 0.3% after coalition parties agreed to extend measures to cushion the effects of the coronavirus crisis, including prolonging a short-time work scheme and a freeze on insolvency rules.
Finance Minister Olaf Scholz said the additional measures could cost Germany 10 billion euros ($11.81 billion).
Neighbouring France is also set to present its economic recovery plan on September 3, Prime Minister Jean Castex said. Paris-listed shares <.FCHI> were flat.
The pan-European STOXX 600 index <.STOXX> rose 0.2% but held back fears after two European patients, confirmed to have been re-infected with COVID-19, raised concerns about people’s immunity to the virus.
Swedish radiation therapy equipment maker Elekta
(Reporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.V)