Stocks rose worldwide as AstraZeneca (AZN.L) on Monday and Oxford University confirmed plans to resume a major coronavirus vaccine trial.
Investors welcomed the resumption of the late-stage study, which was halted last week after a trial trial reported side effects.
Oxford University announced over the weekend that clinical trials would resume in the UK with the approval of regulators.
“Some 18,000 people globally have received the study vaccines as part of the trial. In such large trials, it is expected that some participants will become unwell and every case must be carefully evaluated to ensure a careful assessment of safety, ”the university said in a statement.
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In Britain, the FTSE 100 (^ FTSE) jumped 0.8% upon opening. The Europe-wide Europe-Stocks 50 Index (^ STOXX50E), Germany’s DAX (^ GDAXI) and France’s CAC 40 (^ FCHI) all rose 0.9%.
“Asian shares have set off to a positive start to the week helping to make a good run in Asia, as well as UK tests again following last week’s suspension and possible side effects by AstraZeneca on safety concerns Progress on a potential vaccine has fueled renewed optimism after starting. ” , ”Said Michael Hewson, chief market analyst at CMC Market UK.
“The CEO of US pharmaceutical giant Pfizer was also excited about the possibility that US citizens could see the introduction of the Kovid vaccine by the end of the year,” he said.
Many high-profile corporate deals also fueled the perception. “Bells and Acquisition Activity showed that there was still a little life in the market,” said AJ Mold, director of investment, Ros Mold.
“With US pharma giant Gilead to buy a cancer specialist north of $ 20 billion, Japanese investor Softbank announced that it would sell UK microchip designer ARM to US-Nvidia for $ 40 billion.
“The biggest deal in terms of market sentiment was the report of Oracle’s partnership with Chinese social media platform Tiktok, which helped ease concerns over the trade war between the US and China.”
US stocks appeared ready to jump into the open on Monday. S&P 500 futures (ES = F) were up 1.4%, Dow Jones futures (YM = F) were up 1.2% and Nasdaq futures (NQ = F) were up 1.8%.
Asian markets also held rallies overnight. Japan’s Nikkei (^ N225) and Hong Kong’s Hang Seng (^ HSI) rose 0.7%, while Shanghai Composite (000001.SS) and Schengen Component (399001.SZ) were both up 0.6% in China.