German Economy Ministry: Expanding coronavirus aid for companies

Germany economy ministry announced on Friday that they will be expanding the coronavirus aid for companies, as reported by Reuters.

"Coronavirus aid for companies will amount to €4.5 billion a week in December," the statement revealed. Earlier in the day, German Economy Minister Peter Altmaier said that they were expecting a wave of insolvencies of restaurants and hotels in December and November.

Market reaction

Germany's DAX 30 Index showed no immediate reaction to this headline and was last seen gaining 0.25% on the day at 13,320.