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Global inventories rise with better news about vaccines | National News

JOE McDONA LDAP Business Writer

Beijing (AP) — After better news about vaccine potential, global equities and Wall Street futures rose on Monday, but worried about anti-coronavirus restrictions on businesses.

AstraZeneca said Monday that late-stage trials showed that the coronavirus vaccine was up to 90% effective. The UK-Sweden company is the third leading pharmaceutical company to report late-stage results of the potential COVID-19 vaccine.

This helped ease investors’ concerns about the decision to re-impose antivirus control in the United States, Europe, and some Asian countries, which could impede retail spending, travel, and other business activities.

In Europe, a November survey of business activity in the euro area showed a 0.5% increase in Frankfurt’s DAX to 13,200 and a 0.4% increase in Paris’ CAC 40 to 5,517. The so-called PMI fell to 45.1 points in November, below the 50 mark that separates economic contraction and expansion. This reading reflects the impact on businesses of the blockades in the euro area of ​​19 countries.

The London FTSE 100 also leveled off at 6,349 after a similar survey fell, but not so sharply.

On Wall Street, the future of the Benchmark S & P 500 Index rose 0.5%. The average of the 30 Dow Jones Industrial Averages was 0.6% higher.

Investors have been waiting for US economic growth data to be released Wednesday as rising infections clashed with expectations of vaccine potential after the Wall Street Benchmark S & P 500 Index ended last week. Also on Wednesday, the Federal Reserve Board will report on the latest meeting, which is not expected to be surprising.

Global inventories rise with better news about vaccines | National News

Source link Global inventories rise with better news about vaccines | National News

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