D.he prospect of the approaching approval of a coronavirus vaccine triggers a fireworks display on the stock exchanges. The Dax rose faster than it has for a year – the German standard value index rose by 5 percent. Mainz-based company Biontech, which works with American pharmaceutical company Pfizer, had previously published encouraging data on the effectiveness of its vaccine. An emergency permit should be applied for this month.
“It is the news of the year, maybe even the news of this decade,” commented Jochen Stanzl from the online broker CMC Markets: “It is a collaboration between two companies from the United States and Germany that could free mankind from the hostage of this virus . ”After four years of“ transatlantic divisions under the Trump administration, nothing could be more beautiful than this news ”. Not just in a political sense, but also in
health concerns, the world could soon enter the healing phase. “For the first time since the pandemic began, light is now visible at the end of the tunnel,” he added.
There were also encouraging comments from academia. “This message makes me shine from ear to ear,” said Peter Hornby, Professor of Emerging Infectious Diseases at Oxford University. It is a relief to see such positive results for this vaccine. “This is a good omen for Covid-19 vaccines overall. Of course we need more details and we have to wait for the final result. Plus, there is still a long way to go before vaccines make a real difference. But it feels like a turning point. “
The price of the subscription rights (ADR) on the shares of Biontech recently rose by 27 percent, that of Pfizer shares by more than 11 percent. Travel company shares are also among the biggest winners. Lufthansa gained 30 percent, Tui 25 percent. Fraport and Airbus are also up 22 and 18 percent respectively. At the same time, investors withdrew from safe havens. The prices fell on the bond market, and the yield on ten-year government bonds rose by 5 basis points to minus 0.57 percent.
Some investors also seem to see it that way, who probably took unexpected profits at first, so that the price gains melted away again quite quickly. Previously, Joe Biden’s victory in the American presidential election had created a good mood. With Biden’s victory, the uncertainty will disappear, said market strategist Stephen Innes of the broker Axi. The fluctuations should now subside noticeably.
There were already significant price increases in Asia. Biden’s victory reduced the risk of international trade wars, so the reasoning. In China, the surprisingly strong export growth in October also made for joy. The CSI-300 index rose by 2 percent to 4981 points, the Hang Seng index rose by 1 percent to 25,974 points.
In Tokyo, the Nikkei 225 closed with a gain of 2.1 percent at 24,840 points. Investment strategist Takuya Hozumi of Mitsubishi UFJ Morgan Stanley said the Japanese stock market would be boosted by strong corporate balance sheets.
Oil prices are also increasing strongly. A barrel (159 liters) of the North Sea Brent cost $ 42.36 last, around two dollars more than on Friday. The price of a barrel of American West Texas Intermediate (WTI) rose to more than $ 40. Expectations of more predictable and steady policies and hopes for a stimulus package also drove the prices of oil and gold, said Will Sungchil Yun, chief commodities analyst at VI Investment, told Bloomberg news agency. However, volatility will continue while Trump is delaying the process of handing over power ..