Europe open: Shares surge on vaccine hopes, Biden transition
Surging travel stocks helped push European markets higher at the opening on Tuesday, spurred on by fresh Covid-19 vaccine hopes and news that US President-elect Joe Biden can officially start his transition to power.
The pan-European Stoxx 600 index was up 0.66%, with all bourses higher.
US futures showed the Dow Jones index up 258 points.
Investors had started to digest the results of AstraZeneca and Oxford University’s joint contribution to the fight against the coronavirus. The market seemed unimpressed on Monday with the 70% efficacy rate compared with higher results from rivals Moderna and Pfizer.
“The headline figure of 70% effective is the average, and one of the regimens is 62% effective and the other is 90%. In terms of cost, the Astra-Oxford medication is reported to be a fraction of the price of Moderna’s and Pfizer-BioNTech’s possible vaccines,” said interactive investor analyst Richard Hunter.
Source: Sharecast News (Michele Maatouk contributed to this report)
Surging travel stocks helped push European markets higher at the opening on Tuesday, spurred on by fresh Covid-19 vaccine hopes and news that US President-elect Joe Biden can officially start his transition to power.
The pan-European Stoxx 600 index was up 0.66%, with all bourses higher.
US futures showed the Dow Jones index up 258 points.
Investors had started to digest the results of AstraZeneca and Oxford University’s joint contribution to the fight against the coronavirus. The market seemed unimpressed on Monday with the 70% efficacy rate compared with higher results from rivals Moderna and Pfizer.
“The headline figure of 70% effective is the average, and one of the regimens is 62% effective and the other is 90%. In terms of cost, the Astra-Oxford medication is reported to be a fraction of the price of Moderna’s and Pfizer-BioNTech’s possible vaccines,” said interactive investor analyst Richard Hunter.
Source: Sharecast News (Michele Maatouk contributed to this report)