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European stock markets made significant gains on Monday, following Joe Biden’s projected victory in the US presidential election and positive news about the COVID vaccine from Pfizer, CNBC reports.
The pan-European Stoxx 600 Index rose 4% in the early afternoon, and shares of travel and leisure companies rose as much as 9%, according to Mediafax.
European markets are on the brink of international stock markets as investors react to Democrat Joe Biden’s victory over Donald Trump in the US presidential race.
The shares received an additional boost after the American pharmaceutical company Pfizer and the German biotechnology company BioNTech declared that their coronavirus vaccine is more than 90% effective in preventing Covid-19 among those without prior evidence of infection.
Asia-Pacific stocks also made big gains on Monday, and US stocks looked poised to enter the post-election whirlwind as futures trading rose in the morning.
The Madrid Stock Exchange registered an increase of 7.25%, the Paris Stock Exchange of 6.82%, in Frankfurt the DAX index rose 5.52% and the AEX in Amsterdam 3.31%.
In Bucharest, the BET index showed an increase of 2.45%.
Publisher: AC
