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MarketScreener Homepage  >  Indexes  >  Switzerland  >  Euro Stoxx 50       EU0009658145


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European shares extend rally on vaccine cheer

11/23/2020 | 07:09am EST

European shares jumped on Monday (Nov 23)

Encouraging developments around a coronavirus vaccine spurred bets of a faster economic revival globally.

The pan-European STOXX 600 index rose 0.4% and hit a fresh high since late February.

With energy and banking sectors leading gains.

The benchmark index has gained nearly 40% from its March lows, helped by a flood of stimulus measures.

Travel stocks were a big winner on Monday.

Holiday firm TUI saw an 8 percent rise.

While easyJet was up over 5 percent.

But gains remain capped as investors weigh risks of rising infections against hopes of a vaccine supporting a recovery.

Robert Halver is head of capital markets at Baader Bank:

"On the one hand, there are the lockdown restrictions, which will be extended, but also the hope for a vaccine. On the other hand, the economy is in hibernation but Spring is supposedly going to be particularly beautiful. Markets are torn between the two."

On Monday AstraZeneca said its COVID-19 vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen.

The company's shares however slipped 2 percent.

Traders attributed the drop to its vaccine showing lower success than rivals such as Pfizer.

Regional stocks were also buoyed by hopes of a swifter economic recovery, after the British government said it was working to ease restrictions over Christmas.

That helped UK's FTSE 100 index gain 0.3%, along with hopes of a post Brexit-trade deal with the European Union.

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 0.44% 7592 Delayed Quote.3.66%
EASYJET PLC 0.90% 832 Delayed Quote.0.24%
EURO / BRITISH POUND (EUR/GBP) 0.08% 0.88866 Delayed Quote.-0.60%
EURO STOXX 50 -1.15% 3599.55 Delayed Quote.1.32%
PFIZER INC. -0.14% 36.7 Delayed Quote.-0.30%
STOXX EUROPE 600 -1.01% 407.85 Delayed Quote.2.21%
TUI AG 3.87% 4.48 Delayed Quote.-13.61%
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Euro Stoxx 50 Technical Analysis Chart | EU0009658145 | MarketScreener
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Top / Flop EURO STOXX 50
AHOLD DELHAIZE N.V. 24.86 Real-time Quote.1.51%
DANONE S.A 53.62 Real-time Quote.1.32%
KONE OYJ 65.6 Delayed Quote.1.05%
KONINKLIJKE PHILIPS N.V. 45.01 Real-time Quote.0.73%
UNILEVER N.V. 49.355 End-of-day quote.0.69%
ASML HOLDING N.V. 435.85 Real-time Quote.-2.57%
DAIMLER AG 56.26 Delayed Quote.-2.68%
ADIDAS AG 281.8 Delayed Quote.-2.76%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 493.95 Real-time Quote.-2.77%
BANCO SANTANDER, S.A. 2.7205 Delayed Quote.-2.87%
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