Pfizer New Coronavirus Vaccine Sees Global Stocks Rise

Pfizer New Coronavirus Vaccine Sees Global Stocks Rise

Pfizer new Coronavirus vaccine sees global stocks rise!

According to the information provided by Pfizer during the morning of this Monday, its experimental vaccine was more than 90% effective in preventing Covid 19.

After all, the possibility of the world moving definitively into a post-Coronavirus era, greatly improves an economic outlook tied to the uncertainty of the health emergency.

The optimism for the Pfizer new Coronavirus vaccine triggered the actions of the sectors most affected globally: tourism, real estate and banks.

The Dow Jones rose 2.95%, the largest daily change since June 5. In Europe, Frankfurt closed 4.94%, Paris, 7.57%, Madrid closed up 8.57% (the highest in 10 years); London, 4.67% and Milan, 5.43%. Paris, London and Milan posted their best results in a session since March and Frankfurt since May. The IPSA rose 3%.

Not all of the hike was from the Pfizer new Coronavirus vaccine and Asia is a good way to separate the effects. Stock markets also closed in the green, thanks to the end of electoral uncertainty in the US. This, because a presidency of Joe Biden is supposed to ease trade tensions with China and deliver a fiscal stimulus, but it will not be able to raise taxes since the Senate remained in the hands of the Republicans.

The change in the world economic outlook, driven by expectations of an early Coronavirus vaccine, led, on the contrary, to a drop in the classic refugee commodities. Gold posted a daily drop of 4.53%, while silver fell 5.88%.

Although the euphoria that was unleashed this Monday because of the Pfizer new Coronavirus vaccine in the Western markets was wide-ranging, there were some actions that were subtracted from the celebrations. These are precisely those papers that have benefited from the confinements and that, for this reason, on Wall Street are known as “stay-at-home stocks”.

In terms of the impact on the market, Deutchse Bank notes that:

Global risk assets “should increase further in what really is a breakthrough on the vaccine front.” In their case, they are betting that the FDA will grant “an emergency use authorization” by the end of the month, which would lead to “a wide rotation of the sector towards cyclical assets, in stocks, commodities and currencies”

Several shares listed on the Nasdaq, which although resisted much of the day in the green, closed with a decrease of 1.53%. But so far this year, this was still a solid increase of 30.55%.

The dollar was volatile on Monday’s session. In the morning hours, the currency fell to the lowest levels since December, trading at $ 747, but at the close of the session it recovered ground and rose $2 compared to Friday, closing at $ 756. Behind this rise is the election of Joe Biden in the US and the advance in the vaccine against Covid-19.

But for now, Pfizer new Coronavirus vaccine sees global stocks rise!

Leave a Reply

Your email address will not be published. Required fields are marked *