Note

European stocks inch higher as AstraZeneca gains on UK vaccine approval

Verified Media
· Views 67

(Reuters) - European stocks edged higher on Wednesday as Britain approved a COVID-19 vaccine developed by AstraZeneca and Oxford University, while bets of more U.S. fiscal aid and massive vaccination efforts spurred hopes of a strong global economic recovery next year.

The pan-European STOXX 600 rose 0.1% by 0810 GMT, hovering near a 10-month high hit in the previous session.

Shares in AstraZeneca were up 1.3% after jumping 3.3% earlier in anticipation of the news. The drugmaker said the authorisation was for a two-dose regime, and that the vaccine had been approved for use for emergency supply as Britain battles a new, highly contagious variant of the virus.

Most markets in the region were subdued due to thin volumes in a holiday-shortened week. The German DAX was flat, while French and Spanish stocks slipped 0.1% each.

Unicaja rose more than 2% and Liberbank was down 3.6% after they announced an all-in share deal that would create Spain’s fifth-biggest bank with around 110 billion euros ($134.71 billion) in assets.

Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu

Our Standards: The Thomson Reuters Trust Principles.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.