News of the Covid-19 vaccine and Biden's victory "pull up" the stock market

covid-19-vakcinu-un-baidena-uzvara-parauj-augsa-akciju-tirgus">

Market growth accelerated following the announcement by US pharmaceutical giant Pfizer and German company BioNTech that their jointly developed new coronavirus vaccine had shown 90% effectiveness against Covid-19 infection in the third phase of trials.

“News of Pfizer’s Covid-19 vaccine has acted as an adrenaline rush in the markets, causing one of the biggest one-day changes in global stock prices,” said Rass Molds, AJ Bell’s chief investment officer.

“A successful vaccine is more important than Joe Biden’s victory in the US election because it would effectively pave the way for a resumption of economic growth globally,” Molds said.

–

The share price of Pfizer increased by 7.7%. Stock prices of companies hit hard by the pandemic also rose, including in the travel industry.

Video conferencing company Zoom’s share price fell more than 17%, Netflix’s share price fell 8.8% and Amazon’s share price fell 5%.

–

Oil prices also rose significantly. “Energy [resursu] The market is very sensitive to economic health perceptions, so progress on a possible vaccine has led to a huge wave of oil demand, “said David Madens, a market analyst at CMC Markets UK.

The Dow Jones Industrial Average rose 2.95% to 29,157.97 points on Monday, the Standard & Poor’s 500 rose 1.1% to 3,550.5 points, and the Nasdaq Composite fell 0.7% to 11,713.78 points.

The London Stock Exchange index FTSE 100 rose 4.7% to 6186.29 points on Monday, the Frankfurt stock exchange index DAX 30 rose 4.9% to 13,095.97 points, while the Paris stock exchange index CAC 40 rose 7.6% to 5336 .32 points.

In the e-commerce of the New York Stock Exchange, the price of WTI crude oil rose by 7.3% to USD 39.84 per barrel on Monday. The price of Brent crude rose 6.5% to $ 42.02 a barrel on the London Stock Exchange.

The euro fell against the US dollar from 1.1872 to 1.1814 dollars per euro on Monday, the British pound against the US dollar rose from 1.3156 to 1.316 dollars per pound, and the US dollar against the Japanese yen rose from 103.33 to 105 , 31 yen per dollar.