A general view of the Wopakat refinery in Rotterdam port, Rotterdam-based Petrol, diesel and other major oil and oil companies in the Netherlands, including BP, Gwenner Petroleum, VPR Engineering, ExxonMobil or ExxonMobil, ESSO and ShellW.
Dean Mohtoroplos / Getty Images
European stocks rallied on Wednesday by oil companies and pharmaceutical manufacturers, although shares of AstraZeneca plc fell when its COVID-19 candidate was temporarily detained.
U.S. Stock futures also later rallied, leading to a rally in technology stocks.
Stoxx Europe 600 Index SXXXP,
It rose 0.7% after falling more than 1% on Tuesday. The index has declined seven out of the last nine trading sessions. Elsewhere, German DAX DAX,
0.8%, French CAC 40 PX1,
0.6% and FTSE 100 UKX,
Increased by about 1%.
Weakness in British pound GBPUSD breaks UK stocks,
The UK has told the European Union it has fallen 0.4% against the accord, preparing to exit the bloc without any explanation. A weaker pound could benefit UK companies that receive overseas revenue as it makes their goods more competitive.
Stock futures will point to a potentially strong start for Wall Street, with Nasdaq-100 futures NQ00,
Above 1.5%. Dow YM100,
And S&P 500 futures ES00,
Each rose around 0.5%.
Nasdaq Composite COMP,
Electric-car maker Tesla suffered its biggest one-day crash to date as it fell 4.1% on Tuesday. Dow Industries DJIA,
bled 63૨ points or 2.3% and S&P 500 SPX,
Decreased by 2.8%.
Richard Hunter said there was still a clear indication that the index had passed the inflation point, although there was still the possibility that an increase in epidemic fuels in the last few months could ease as some sort of normalization returned to the world. , Head of interactive investor markets, in customer notes.
Shares of AstraZeneca plc AZN,
AZN,
After a patient became ill the drugmaker dropped 1% after stopping his COVID-10 vaccine candidate end-stage experiments, probably the response to the treatment.
The company said in a statement late Tuesday evening: “This is a routine action that has to be taken whenever there is a potential unexplained illness in any test, when it is investigated, to ensure that we maintain the integrity of the trial. “
“This shock is not uncommon in trials and standard review processes pause to examine the data,” says Stephen Ines, Exicorp’s global chief market strategist, in a note to customers.
Other drug makers have done better, with shares of Roche Holding AG ROG.
0.8% and GlaxoSmithKline PLC GSK,
Increasing 2%.
Benefits for large oil companies include Royal Dutch Shell plc. R.D.S.A. With stocks of, supporting the main European index,
Rising 1.8%, BP plc BP,
1.7% and total SE FP,
Increased 1%.
Oil prices hit their lowest settlement on Tuesday amid concerns of a steady rise in global epidemic cases, with concerns that demand in global epidemic cases will decline. Crude Futures CL.1,
Wednesdays were moderately higher.
.
