BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose on Wednesday ahead of a speech by European Central Bank President Christine Lagarde, who is expected to reiterate the central bank's dovish stance as Covid-19 concerns continue to linger.
Governments across Europe are tightening local restrictions to regain control of resurgent coronavirus infections.
The regional government of Catalonia, Spain's most-populous region, is weighing a complete shutdown of bars and restaurants to stem the spread of the virus.
In France, Paris, Marseille and seven other large cities have been placed under maximum alert.
The new three-tier system of Covid-19 restrictions has begun in England, raising concerns that the tighter measures will impact economic growth.
The benchmark DAX rose 39 points, or 0.3 percent, to 13,057 after losing 0.9 percent the previous day on worries about a halt in Covid-19 vaccine trials and uncertainty over more U.S. stimulus.
Travel-related stocks were moving lower, with airline Lufthansa declining 1.5 percent and travel & tourism company TUI AG falling nearly 2 percent.
Lender Commerzbank rose about 2 percent and Deutsche Bank climbed 1.2 percent.
Copyright RTT News/dpa-AFX
© 2020 AFX News
