In a taste of what to potentially expect from the rest of the month, Wednesday ran the gamut, from a mixed open to heavy lunchtime losses to a decent US open.
The turning point appeared to be some vaccine news, an element of the pandemic saga that has been missing from the last couple of weeks. Biontech (NASDAQ:BNTX), an annoyingly formatted German company, and Pfizer (NYSE:PFE) have said their potential vaccine ‘yields immune activity and a strong immune response’. It will now move on to wider trials.
Though it didn’t quite cause the explosion of growth previous reports have done, it did erase European losses that were running as high as 2% at the midday mark.
The Dow Jones, which at one point was facing a 250 point fall, climbed 180 points, pushing the index back above 25950. It benefited from a 4.4% from Pfizer itself, obviously rising on the vaccine news.
Off the back of this, the FTSE added 0.2%, reversing a 1.5% plunge and putting it back near 6200. The CAC underwent the same process, with greater results, turning a 1.9% dive into a 0.3% rise. Only the DAX failed to properly push in the green, still recovering from the technical glitch that had plagued the Xetra.
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