European stock markets are seen opening lower Tuesday, handing back some of Monday’s sharp gains after optimism over the latest positive Covid-19 vaccine news wanes.
At 2:05 a.m. (ET), the DAX futures contract in Germany traded 0.4% lower, CAC 40 futures in France dropped 0.3% and the FTSE 100 Futures contract in the U.K. fell 0.4%.
Investor sentiment was given a boost Monday when Moderna (NASDAQ:MRNA) said its experimental Covid-19 vaccine was 94.5% effective in preventing infection, adding to Pfizer’s promising trial data last week.
This resulted in strong equity market gains, with the FTSE 100 and the CAC 40 both closing 1.7% higher and the DAX gaining 0.5%.
However, investors have started to reassess the situation amid worries over vaccine production and delivery, and given the ever-increasing number of coronavirus cases globally, particularly in the U.S..
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Edited 17 Nov 2020, 15:43
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