World News – CA – European stocks rise to their highest in February in Moderna Vaccine Study – BNN Bloomberg


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8 hours ago

BC-European-Stocks-Surge-to-February-High-on-Moderna-Vaccine Study
Lucas Strobel and Namitha Jagadish

(Bloomberg) – European stocks continued their rally last week after positive readings from Moderna Inc. The Coronavirus vaccine study boosted risk appetite, while Spanish banks rallied deal activity.

The Stoxx Europe 600 closed at a height of 1. 2%, the highest level since February. 26. Previously hit cyclical sectors such as banks, automakers and energy stocks posted the largest gains after Moderna said the Covid-19 vaccine was 94.. 5% effective in the preliminary analysis of a large and delayed clinical trial. Epidemic winners like HelloFresh SE and Ocado Group Plc declined.

November Europe rally regains momentum after losing ground last weekend, with the rebound also helped by U. s. Advisers to president-elect Joe Bidna indicate a national lockdown is unlikely. Economically sensitive cyclical stocks and cheaper stocks have rallied since last Monday after better-than-expected results for Pfizer. . And the BioNTech vaccine trial.

â ?? We now have a second vaccine with excellent efficacy, which increases the chances that we will have enough supplies to protect people in a matter of months, ???? Said Maxim Jacobs, Managing Partner and Director of Research for the Edison Group. He said that storing the shot is easier than storing Pfizer-BioNTech and the results of the experiment show that it is safe. .

European bank stocks also got a boost as Spanish lenders rose after BBVA sold its U-company. s. Unit for $ 11. 6 billion, sparking speculation that it will use the proceeds to target its counterpart Banco de Sabadell SA. Confirmation of potential merger talks between companies came after the market closed. Elsewhere, Vodafone Group Plc has jumped after updating its full-year earnings guidance.

More strategists, including Morgan Stanley, recommend switching to European cyclical stocks and cheaper-valued stocks, amid optimism about the vaccine boom and economic rebound.

Next year should be – even more beneficial for European stocks – as the region moves from slowing down Covid to vaccine winner, as it enjoys a material recovery in GDP ???? Morgan Stanley strategists led by Graham Secker wrote in a note. “We prefer cyclicality over defenses and value over quality because the global deflationary narrative is gaining momentum.. â €

Moderna, Stock, Vaccine

World News – CA – European stocks rise to a February high based on Moderna Vaccine Study – BNN Bloomberg
Related Headline :
European stocks rise higher A level in February in Moderna, a vaccine study
vaccine European stocks rise further on the positive study of the Moderna


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