Global market indices recorded a record high, Monday, after the American pharmaceutical company "Pfizer" announced that the Corona vaccine, which it is developing with the German company "Biontech", is 90% effective, raising hopes that the global economy will emerge from a crisis linked to the pandemic.
Airlines and shipping companies, which were the most affected by the Corona virus, recorded an increase in their shares, as the shares of Boeing rose by 15%, while the shares of airlines and cruise line operators ranged between 20% to 30%, according to data. Reuters ".
Oil prices rose by more than 10%, while the major oil companies "Exxon Mobil" and "Chevron" jumped 10%. US bank shares also recorded an increase of 9%.
Brent crude futures rose by $ 3.63 (9.25%), to $ 43.10 a barrel at 14:50 GMT, while West Texas Intermediate crude rose by $ 3.89, (10.5%) to $ 41.02.
US market recovery
The Dow Jones Industrial Average and the Standard & Poor's 500 Index hit record highs, moments after the start of the Wall Street trading session on Monday.
The "Dow Jones" jumped 1144.50 points (4.04%) to 29467.90 points at the open, while the "Standard & Poor's 500" index rose 73.60 points (2.10%), to 3583.04 points.
The "Nasdaq Composite" index rose 152.5 points (1.29%) to 12047.16 points when the markets opened, before Reuters announced that it had set a new record high.
European stocks jump to the highest level in 8 months
The European stock market jumped to its highest level in 8 months, after the announcement of "Pfizer", in addition to the victory of Joe Biden, which raised hopes for a more stable trade policy for the United States.
The European "STOXX 600" index rose about 4%, its best one-day performance since the end of last March.
Shares of travel and entertainment companies, which were the most affected by the pandemic, were among the best performing sectors in Monday's session, and rose by 7%, to the highest level in 8 months.
German "Biontech" shares jumped more than 15%, pushing the German "DAX" index, to close with a gain of 5%, while the index was also supported by positive trade data for the month of September.
On the London Stock Exchange, the "Financial Times" index, which is heavy with shares of export companies, closed up 4.7%.
0 Comments