Europe: Stocks advance on vaccine news

[LONDON] European stock markets opened firmer on Monday, buoyed as positive news on another coronavirus vaccine trial helped offset concerns over soaring case numbers, dealers said.

In London, the FTSE 100 index of leading shares was up 0.5 per cent at 6,382.36 points.

In the eurozone, the Paris CAC 40 gained nearly one per cent to 5,543.83 points and the Frankfurt DAX put on 0.6 per cent to 13,219.25 points.

Shortly before the markets opened British drugs group AstraZeneca and the University of Oxford said their jointly-developed vaccine against Covid-19 has shown "an average efficacy of 70 per cent" in trials, and up to 90 per cent in one dosage combination.

"This vaccine's efficacy and safety confirm that it will be highly effective against Covid-19 and will have an immediate impact on this public health emergency," AstraZeneca chief executive Pascal Soriot said.

Coronavirus vaccines produced by rivals Pfizer/BioNTech and Moderna have come in above 90 per cent.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

AFP