European stocks extend gains on vaccine, Biden | Malay Mail

London stocks closed with an increase of 1.4 per cent, while Frankfurt was 0.4-per cent higher and Paris added 0.5 per cent. — Reuters pic

But by the close of New York trade, the Dow Jones index slipped by just under 0.1 per cent as investors took profit on the recent gains. “Optimism surrounding the potential Covid-19 vaccine is still lifting equity markets, but the bullish sentiment has cooled,” said David Madden, market analyst at trading firm CMC Markets UK.Equities roared on Monday after US pharma giant Pfizer and Germany’s BioNTech announced that their candidate for a Covid-19 vaccine had been 90 per cent effective, lifting hope that the planet could return to a more normal pace next year.

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