European markets rally on vaccine optimism

Monday, 16. November 2020 17:30

European stock markets closed with strong gains on Monday as shares were lifted by news that Moderna's coronavirus vaccine candidate might be even more effective than Pfizer's.

Earlier, Moderna announced its vaccine is 94.5% effective against COVID-19, as indicated by early data. Last week, Pfizer made a similar announcement, leading to a stock market rally across the globe.

The DAX gained 0.67%; MTU Aero Engines was the top performer, soaring over 5% The CAC 40 closed 1.70% in the green as Unibail-Rodamco-Westfield surged 17%. The FTSE 100 jumped 1.66% at the end of the session in London. The euro was up 0.04% against the dollar at 5:40 pm CET, buying 1.18375. Meanwhile, the pound declined 0.02% compared to the US currency, to go for 1.31918.

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Breaking the News / JC