Global Stock Market rocket on vaccine hopes

 

Stock Markets have rocketed on the hopes of potential breakthrough in the search for a vaccine against Covid-19. Drugs firm Pfizer’s own shares climbed 9 per cent after it had that preliminary analysis indicated that its coronavirus vaccine was 90 per cent effective.

The owner of British Airways, International Airlines Group (IAG) rose 40 per cent, airline engine make Rolls Royce up 33 per cent and cinema owner Cine world saw its shares rise 50 per cent.

Home food delivery experts Ocado and Just Eat were both down 10 per cent and the office workers new best friend Zoon was down 14 per cent as the US stock market opened.

Markets, already buoyed after a clear end to the US election, piled on gains . The FTSE 100 leap by nearly 5 per cent.

In the US, the Dow Jones Industrial Average, which had jumper 5.6 per cent in opening trade, closed about 3 per cent. The S&P 500 also retreated from its morning leap, ending just 1.1 per cent higher, short of a new record.

The Nasdaq, where several of the tech firms that have benefited from the lockdown are listed , fell 1.5 per cent.