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Free AccessStocks Uniformly Higher as AstraZeneca Throw Hat into Vaccine Ring
European indices are higher across the board, with broad-based gains of around 0.8% posted across German, Spanish and Italian markets. the FTSE-100 lags slightly as the stronger GBP counters domestic equity strength. EuroStoxx 50 showed at a new multi-month high and above the 3500 level. The gains follow AstraZeneca/Oxford updating on the progress of their COVID-19 vaccine, reporting a 90% efficacy rate and easier distribution channels as the vaccine only requires regular refrigeration - an easier path to immunity given the Pfizer/BioNTech's candidates requires ultra-low storage temperatures.
Energy, financials and materials are the firmest sectors, with defensive utilities, consumer staples and healthcare the poorest performers. Airlines are among Europe's best performers, with IAG & Deutsche Lufthansa higher by 4% or more.
The e-mini S&P sits just shy of the Friday high, facing resistance at 3587.25 ahead of the 3668 November high.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.