Vaccine hope, Biden win prove 'spicy cocktail' for soaring stocks

LONDON: European stock markets and oil prices rocketed Monday on coronavirus vaccine hopes following successful trials.

Already up strongly on Joe Biden’s US election win, markets massively accelerated gains after Pfizer and BioNTech said their vaccine was 90% effective in preventing Covid-19 infections.In the eurozone, Frankfurt jumped 6.0%, Paris soared 7.1%, Milan won 6.2% and Madrid 9.4%.“Stock markets surged on some extremely positive news from Pfizer and Biontech,” said Neil Wilson, chief market analyst at Markets.com.

“The Dow is now seen up 1,300 points . Coming on top of the wave of relief from Joe Biden’s victory, it’s proving a spicy cocktail for stocks.”The dollar was steady versus the euro and pound – and up more than 1% against the yen.

but the vaccine has nothing to do with biden..

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European stocks extend gains on vaccine, Biden | Malay MailLONDON, Nov 12 — Europe’s major stock markets climbed higher yesterday, extending stunning gains this week that were fuelled by a promising coronavirus vaccine trial and Joe Biden’s US presidential election victory. London stocks closed with an increase of 1.4 per cent, while Frankfurt was...
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