European shares traded higher on Thursday when world markets received a boost from news about the development of a possible coronavirus vaccine.
The pan-European Stoxx 600 rose 1.3% mid-morning, with banks up 4% to lead gains as all sectors and major markets entered positive territory.
European stocks are tracking global markets on the rise, with investor sentiment getting a boost from the news that a vaccine candidate developed by Pfizer and BioNTech shows potential. An early-stage human test of one of the four possible coronavirus vaccines he is developing showed that the drug created neutralizing antibodies. The results, which were published online, have not yet been reviewed by a medical journal.
Shares in the Asia Pacific rose during Thursday’s trading session were fueled by the news, however investors in the region are keeping a close eye on rising tensions in Hong Kong after China’s controversial national security law went into effect. on Tuesday. Hong Kong police announced their first arrests on Wednesday. So far, police have arrested at least 370 people, they said on Twitter.
Bigger moves
Meggitt’s shares rose 8% mid-morning after a trading update as the British engineering company expressed hope for a recovery in the aerospace business. British Airways parent IAG gained 7.3%.
At the other end of the first-class European index, DS Smith’s shares sank 7% after the British packaging firm’s latest trading update.
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