For the third consecutive Monday, markets were greeted with optimism, as more coronavirus vaccine news surfaced.
This week’s announcements came from Oxford/AstraZeneca, who joined Pfizer and Modera in confirming significant progress on its COVID-19 vaccine.
Despite the news, shares in Britain’s AstraZeneca were down close to 4%, as it stated its coronavirus vaccine could be up to 90% effective, without any serious side effects.
Gold was a big mover on the news, falling to its lowest level since July 22nd. The S&P 500 was up 0.70% as of writing.
Business activity shrinks in Europe
Data released today showed that lockdowns throughout Europe, sharply impacted the continent’s business activity in November.
Figures from the IHS Markit’s flash PMI, dropped to 45.1 in this month from 50.0 in October. Traditionally any reading above 50.0 signals growth, with anything below showing economic contraction. Markets had expected a figure of 46.1.
On the news, the DAX marginally fell to a low of 13,122, after previously hitting an intraday high of 13,314 on the vaccine news.
FTSE falls as UK lockdown set to end
The FTSE 100 fell today, despite UK Prime Minister, Boris Johnson announcing that the national lockdown would be ending next week.
In an address to Parliament, the PM stated that from December 2nd, national lockdowns will be replaced with a stricter tier system and impact the regions with the most amount of COVID-19 cases.
He added that, “We are not going to replace national measures with a free for all … We’re going to go back instead to a regional, tiered approach, applying the toughest measures where COVID is most prevalent”.
The FTSE 100 was down 0.28%.
Quote of the day – “If you stay positive in a negative situation – you are the winner”Gafur Dzhuraev
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Senior Market Analyst