Vaccine news buoys European stock markets

European markets
European markets
Adam Gault

European stock markets opened firmer Monday, buoyed as positive news on another coronavirus vaccine trial helped offset concerns over soaring case numbers, dealers said.

In London, the FTSE 100 index of leading shares was up 0.5% at 6 382.36 points.

In the eurozone, the Paris CAC 40 gained nearly 1% to 5 543.83 points and the Frankfurt DAX put on 0.6% to 13 219.25 points.

Shortly before the markets opened British drugs group AstraZeneca and the University of Oxford said their jointly-developed vaccine against Covid-19 has shown "an average efficacy of 70%" in trials, and up to 90% in one dosage combination.

"This vaccine's efficacy and safety confirm that it will be highly effective against Covid-19 and will have an immediate impact on this public health emergency," AstraZeneca chief executive Pascal Soriot said.

Coronavirus vaccines produced by rivals Pfizer/BioNTech and Moderna have come in above 90%.

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