European stocks traded slightly higher on Friday as rising expectations for vaccines offset concerns about an increase in Covid-19 cases.
The European Commission Chairman Ursula von der Leyen said the COVID-19 vaccine could be approved by the end of the year.Data from mid-stage exams at AstraZeneca PLC and Oxford University Coronavirus Vaccine candidates evoked a strong immune response in the elderly.
Meanwhile, the World Health Organization (WHO) has warned against using the popular Covid-19 drug remdesivir developed by Gilead Sciences to treat inpatients. According to authorities, there is currently no evidence that remdesivir improves survival and other outcomes in these patients.
The International Monetary Fund said that the future economic path remains difficult and tends to recede ahead of the G20 summit this week.
UK retail sales were higher than expected in October, despite the resurgence of COVID-19 cases, according to UK economic data. Health Minister Matt Hancock said cases of coronavirus in the UK have begun to level off as a result of the current blockade.
Pan-Europe Stoxx600 rose 0.4% at 389.29, in addition to a 0.8% increase in the previous session.
Germany’s benchmark DAX rose 47 points (0.4%) to 13,134 after falling 0.9% the day before.
France’s CAC 40 index rose 22 points (0.4%) to 5,497 after falling 0.7% on Thursday.
The UK’s FTSE 100 increased 53 points (0.8%) to 6,387 after a 0.8% decrease in the previous session.
Asian stocks ended mixedly on Friday as investors evaluated the recent rise in connection with the coronavirus surge and the possibility of new regulations in the United States.
On the German side, car makers BMW, Daimler and Volkswagen were slightly higher.
SNP Schneider-Neurether & Partner SE has risen approximately 1.7% since December 1, 2020, after deciding to appoint Michael Eberhardt as Chief Executive Officer.
In the UK, AstraZeneca’s stock rose 2% after the company reported positive covid vaccine development news. In addition, Imfinzi (durvalumab) has been approved in the United States for an additional dosing option, a fixed dose of 1,500 mg every 4 weeks, for the approved indication of unresectable stage III non-small cell lung cancer.
Shares of tech company Sage Group Plc fell 14%, albeit with profits, after the company reported a decline in earnings in fiscal year 2020. The company also said it has raised dividends and expects higher internal rate of return growth next year.
In Switzerland, Swiss Re’s share price rose 1% after insurance majors confirmed financial targets for the entire cycle. The company repeated its capital management priorities, focusing on market capitalization and stable or increasing dividends.
Following WHO’s warning to Remdesivir, Gilead Sciences’ share price fell 2.4% on market activity on NASDAQ.
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European stocks are higher
Source link European stocks are higher