European markets boosted by expectation of coronovirus vaccine

European shares traded higher on Monday morning, boosted by the resumption of coronovirus vaccine trials.

The Pan-European Stocks 600 climbed 0.6% at the start of the business, with 1.1% gain among all the major stocks across all sectors to enter the positive areas.

Global stock is being boosted by the news that Phase III trials of AstraZeneca’s coronavirus vaccine have resumed in the UK after testing last week over safety concerns. This news raises hope that one of the leading candidates in the global race to develop injections that could stop the epidemic.

AstraZeneca said it received confirmation from the Medicine Health Regulatory Authority of the United Kingdom that it was safe to resume clinical trials. The company declined to disclose medical information about the trial stagnation, but indicated earlier this week that a possible unexplained illness was under investigation.

The news comes that the number of coronovirus cases continued to rise in the weekend in about a dozen US states. The country’s leading infectious disease specialist, Dr. Anthony Fauci called the data “disturbing”.

According to a CNBC analysis of growth data from eight states by Johns Hopkins University on Friday, Kovid-19 cases are up by 5% or more, based on a weekly average to smooth daily reporting in 11 states by Sunday. was. .

Meanwhile, in Asia, the stock traded on Monday, which saw shares of Japanese conglomerate Softbank Group with investors following the announcement of the sale of UK chip designer Arm to US chip firm Nvidia with a $ 40 billion deal. Announced on Sunday.

The news was helped by news of fluctuations in the US with stock futures on Sunday night following the sell-off in tech stocks last week.

On the data front, the euro zone industrial production figures are due for July and OPEC releases its latest monthly report on the oil market.

In terms of individual share price action, Dassault Aviation shares jumped more than 9% in early trade, leading the Greek Air Force to announce an order for its 18 Rafale fighter jets to lead Stocks X. British Airways parent IAG also gained over 9%.

At the other end of the European blue chip index, the Belgian pharmaceutical firm Galápagos fell 4%.