Fresh hopes for Covid vaccine give markets a shot in the arm

The Oxford vaccine team is expected to publish encouraging data shortly
The Oxford vaccine team is expected to publish encouraging data shortly
DOUGLAS MAGNO/GETTY IMAGES

Stock markets rallied yesterday in response to hopes that progress with two coronavirus vaccines would boost the economic recovery.

Results from an early stage trial of a vaccine from Moderna, the American biotechnology company, showed that it was safe and provoked an immune response. Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, said that the results were “good news”.

Sentiment also was lifted by reports that encouraging data from a trial of a vaccine being developed by the University of Oxford was due to be published shortly in The Lancet, a leading medical journal. It is among the most advanced and promising of a series of ventures racing to launch a vaccine.

The FTSE 100, London’s premier share