Vaccine expectations and better returns strengthen European stocks

Vaccine expectations and better returns strengthen European stocks

European stocks jumped on Friday on hopes that the corona virus vaccine will be available in the US before the end of the year, a clutch of quarterly earnings, raising sentiment after a tough week.

Pfizer said the Kovid-19 vaccine, which is being developed in early November with German partner Bio Ntech, could be filed for US approval.

Dublin

Essex performed well with other European indices on Friday, up 0.3 percent.

Heavyweight CRH Star Performance is up 2.3 percent. Box manufacturer Smurfit Kappa Another big gain was 3.9 per cent.

However, banks dragged the index down Bank of Ireland Fell 1.5 percent Disclaimer Loss of 1.1 percent.

The other three in Dublin include the insurer FBDThis is an increase of 2.4 percent Ryanair, One per cent decline.

London

The FTSE100 has suffered a four-day loss following a corona virus vaccine update from Pfizer, and the Brexit talks could continue until the end of the year for a trade deal with the European Union.

Leading stocks of pharmaceutical, aerospace, banking and insurance stocks rose 1.5 percent. However, the FTSE 100 and the mid-cap index recorded their first weekly decline in three weeks. Concerns that corona virus controls in various parts of the UK could hamper the new economic recovery.

The mid-cap FTSE 250 index was down 0.1 percent J. D. Weatherspoon The 19.4 percent drop came after the pub operator reported annual losses and announced job cuts as it called for “prudent” government action to address the health crisis.

Jupiter Fund Management Assets manager down 3.3 percent after facing $ 1 billion net inflows in the third quarter.

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Major stocks of oil BP It rose 1.4 percent to its lowest level since 1995 in the last session.

Europe

A Kovid vaccine strengthened global stock markets and helped raise the Pan-European STOXX 600 by 1.3 percent in its best session in three weeks.

The benchmark stock index ended Friday, down three times a week, as a revival of corona virus cases across Europe. London and Paris, two of Europe’s richest cities, are once again in the shadow of government restrictions.

In company news, Thaisen Group The non-binding offer for the steel unit of Liberty Steel Company, founded by commodity tycoon Sanjeev Gupta, rose 10.8 per cent.

LVMH Sales of Louis Vuitton handbags rose 7.3 percent as they recovered from the Corona virus crisis in the third quarter.

Daimler The luxury carmaker rose 5.5 percent after forecasting third-quarter results. Volvo It rose 3.3 percent after recording stronger-than-expected results.

New York

Wall Street bounced back after three consecutive days of losses following a positive update from Pfizer on data on the development of the Kovid-19 vaccine and the strong retail sales growth expected last month.

As soon as the safety milestone is reached in the third week of November, the drugmaker’s shares rose 2.4 percent as it expects to provide safety data and file for approval of the vaccine being developed with Germany’s biotech. BiotechUS-listed stocks rose 1.8 percent.

Kansas City Southern Railways operator, a railway and logistics company, saw its quarterly earnings fall 2.3 per cent. JB Hunt Transport Services Profits fell 8.1 percent due to non-calculation.

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Schlumberger Leading oilfield service providers fell 7.1 percent for the third consecutive quarter.

– Additional Reporting: Reuters

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