Markets back at records | Calamatta Cuschieri

Markets summary

The S&P 500 and Nasdaq Composite indexes closed at record highs on Tuesday, with investors betting a COVID-19 vaccine will be available soon, and more confident about a speedy economic recovery following upbeat Chinese factory data. The Dow Jones Industrial Average rose 0.63% to end at 29,823.92 points, while the S&P 500 gained 1.13% to 3,662.44.

European shares made a positive start to the month on Tuesday following record-breaking gains in November, with optimism around a coronavirus vaccine strengthening the case for economic recovery. After a day’s dip when investors took some profits, the pan-European STOXX 600 index was back in the black, up 0.7%. The index ended November with gains of nearly 14%.

 Maltese markets skyrocketed on Tuesday, with the MSE Equity Total Return Index jumping 5.8 percent to 8,046.196 after a busy session that saw the majority of stocks end with gains. Midi Plc led the surge with shares soaring 22.22 percent to €0.44, followed by International Hotel Investments Plc jumping 20 percent to €0.75.

First COVID-19 vaccine approved in Europe

Britain on Wednesday became the first western country to approve a COVID-19 vaccine, jumping ahead of the United States and Europe after its regulator cleared a shot developed by Pfizer for emergency use in record time. The vaccine will be rolled out from early next week in a major coup for Prime Minister Boris Johnson’s government, which has faced criticism over its handling of the coronavirus crisis with Britain enduring the worst official COVID-19 death toll in Europe.

“The government has today accepted the recommendation from the independent Medicines and Healthcare products Regulatory Agency (MHRA) to approve Pfizer-BioNTech’s COVID-19 vaccine for use,” the government said. A vaccine is seen as the best chance for the world to get back to some semblance of normality amid a pandemic which has killed nearly 1.5 million people and upended the global economy.


Source: Reuters

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