European Stocks Closed Higher on Monday as Hopes for an Effective Coronavirus Vaccine
In the rest of Europe, markets closed higher, driven by encouraging data on the effectiveness of the vaccine against covid-19 that the modern pharmaceutical company is developing. Madrid rose 2.60%, Milan 1.98%, Paris 1.70%, London 1.66% and Frankfurt registered a more moderate increase of 0.47%.
The announcement followed similarly positive news last week from Pfizer and BioNTech’s late-stage coronavirus vaccine trial that showed their vaccine was more than 90% effective.
The Moderna news boosted stocks on Wall Street and markets in the Asia-Pacific region overnight, with shares mostly rising in Tuesday’s trading session. But U.S. stock futures were in negative territory on Monday night despite two of the three major market benchmarks closed at record levels.
In Europe, focus is on the outlook for the EU’s near-term economic recove
Moderna announced that preliminary data indicates that its vaccine against covid-19 is 94.5% effective.
On Monday, the Lisbon stock exchange closed with the PSI20 index in positive territory, registering an increase of 1.35% to 4,426.33 points, in line with the optimism of the main European exchanges.
Of the 17 listed companies that make up the PSI20, 12 were up and five down. Ibersol led the gains and rose 7.44% to 4.62 euros.
European Stocks Closed Higher on Monday - /10