Stock indices around the world continued to rally this week, as markets grew optimistic that the global health crisis could be nearing an end in 2021.

After shaking off the early shock of the Coronavirus pandemic in March and April, Indices across the globe have mostly risen, with many set for record highs to end the year.

As of writing the benchmark S&P 500 in the United States is on the cusp of setting a new high, followed by both the NASDAQ and Dow Jones.

In Europe, Germany’s DAX 30 also recently set new highs, after a Brexit deal was finally reached.  The UK’s FTSE 100 still however is lagging its record high, as it suffered its worst economic recession since the Great War.

AstraZeneca vaccine approved in UK

As expected earlier in the week, the UK has now approved the Oxford-AstraZeneca vaccine, which comes as a new variant of the COVID-19 virus spreads around the UK.

This is now the second vaccine approved by the United Kingdom government in as many months joining the Pfizer vaccine which has already been administered to over 600,000 Britons.

In a statement regarding the news, the CEO of AstraZeneca said that, “today is an important day for millions of people in the UK who will get access to this new vaccine. It has been shown to be effective, well-tolerated, simple to administer and is supplied by AstraZeneca at no profit”.

Despite the news, the company’s stock fell by close to 1%.

As 2020 winds down Bitcoin nears $30,000 

It can be debated what is the “Market of the year”, however as the year is set to end this week, BTCUSD continued to state its case for the honour, as it continues to reach new all-time highs.

Bitcoin climbed to as high as $28,568 this week, and edges closer to a key level of $30,000, after trading close to $3,000 only 8 months ago.

The latest gains took bitcoin’s market capitalisation past $518 billion, with many in the Cryptocurrency space still bullish that it could be set for further highs in 2021.

That in mind, many still remember when BTCUSD had a similar run in December of 2017, before crashing down in January.

Source: Bloomberg Markets and Finance

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Eliman Dambel

Senior Market Analyst
edambell@tvmarkets.com