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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.

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