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Stocks rise after the results of AstraZeneca-Oxford vaccine

The results of the vaccine developed by AstraZeneca in partnership with Oxford University showed that the vaccine exceeded the level of effectiveness sought by the regulatory authorities, which led to a rise in European shares, including the Stoxx 600 index, which rose by 0.6% in early morning trading, at its highest level since February. The region-wide index has risen more than 14% since the beginning of November and is on track to record its best month ever.

The British FTSE 100 rose 0.4%, the German Xetra Dax rose 1.1%, the French CAC 40 rose 0.8%, the FTSE global index rose 0.3%, close to its record high, and the US S&P500 index rose 0.6% In Asia, the Chinese CSI 300 Index rose 1.3%, and in Australia, the S&P/ASX 200 Index rose 0.3%.

On the other hand, shares of energy companies rose to track oil prices, as the global benchmark Brent crude rose by 1.9% to reach $46 a barrel.

All that rise came after the University of Oxford and AstraZeneca announced the results of experiments in the last stages of their vaccine, which showed an efficacy of 70% and achieved an efficacy of a single dose of 90%, and the company said that it would submit the results immediately to obtain regulatory approval, however, AstraZeneca shares fell by 2 %.

This vaccine is more important than the Pfizer and Moderna vaccines, as the AstraZeneca vaccine can be kept at the temperature of the refrigerator, but other vaccines need to be cooled to -70 degrees Celsius to preserve them, and in addition to the fact that the price of the vaccine will represent a small part of the price of other vaccines, which is why many governments are required to order large quantities of this vaccine before they start manufacturing it.

European policymakers are preparing to lift some restrictions and ease others for Christmas celebrations, despite the damage caused by the latest wave of infections, while US policymakers are warning citizens not to travel on Thanksgiving holiday this week amid a high number of injuries.

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