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MarketScreener Homepage  >  Indexes  >  Switzerland  >  Euro Stoxx 50       EU0009658145

EURO STOXX 50

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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 -2.25% 7773 Delayed Quote.6.21%
EASYJET PLC -2.11% 715 Delayed Quote.-13.98%
EURO / BRITISH POUND (EUR/GBP) -0.08% 0.8846 Delayed Quote.-0.93%
EURO STOXX 50 -1.57% 3536.38 Delayed Quote.0.01%
MSCI UNITED KINGDOM (STRD, UHD) -1.50% 1053.257 Real-time Quote.3.71%
PFIZER INC. -2.87% 36.24 Delayed Quote.-1.55%
STOXX EUROPE 600 -1.16% 402.98 Delayed Quote.1.53%
TUI AG -2.78% 3.811 Delayed Quote.20.49%
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Technical analysis trends EURO STOXX 50
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Top / Flop EURO STOXX 50
NOKIA OYJ 4.4 Delayed Quote.13.84%
AHOLD DELHAIZE N.V. 24.47 Real-time Quote.1.79%
AIR LIQUIDE 136.5 Real-time Quote.1.15%
DEUTSCHE TELEKOM AG 15.085 Delayed Quote.0.63%
AMADEUS IT GROUP, S.A. 53.56 Delayed Quote.0.22%
PROSUS N.V. 96.16 Real-time Quote.-3.74%
ASML HOLDING N.V. 440.65 Real-time Quote.-3.90%
BANCO SANTANDER, S.A. 2.4325 Delayed Quote.-3.95%
ADYEN N.V. 1775 Real-time Quote.-4.39%
LINDE PLC 242.91 Delayed Quote.-5.06%
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