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Nov. 16, 2020, 7:27 a.m. EST

European stocks and Dow futures jump on vaccine news, recovery hopes

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By Steve Goldstein

European stocks climbed Monday, helped by data showing the effectiveness of another vaccine and signs the Asian economic recovery is accelerating.

Up 5% last week after early data from U.S. drugmaker Pfizer /zigman2/quotes/202877789/composite PFE -0.63% and German partner BioNTech’s /zigman2/quotes/214419716/composite BNTX -1.62% coronavirus vaccine showed it was 90% effective, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.34% surged 1.4%, after Moderna /zigman2/quotes/205619834/composite MRNA -1.76% said its coronavirus vaccine candidate was more than 94% effective.

Futures on the Dow Jones Industrial Average /zigman2/quotes/210407078/delayed YM00 -0.29% rose 513 points.

The French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.94% , German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.21% and U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.04% extended gains after the Moderna news. Hard-hit European companies such as cruise operator Carnival /zigman2/quotes/210414141/delayed UK:CCL +1.27% and International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG -0.74% jumped.

The recovery in the world’s number-two economy seems to be accelerating, with China’s industrial production jumping 6.9% in the 12 months to October and retail sales rising 4.3%. Japan’s third-quarter gross domestic product rose a stronger-than-forecast 5% in the third quarter. China and Japan also were among the signatories to the Regional Comprehensive Economic Partnership, a free-trade pact covering 15 key Asian countries apart from India.

U.S. hospitalizations for COVID-19 reached a record high on Sunday, according to data from the COVID-19 project, as various regional restrictions begin to kick in. U.K. Prime Minister Boris Johnson, who has suffered from COVID-19 before, is now self-isolating after meeting a member of parliament who contracted the virus, though he is not reported to be showing any symptoms. News that the Biden administration didn’t endorse a national lockdown proved supportive for stocks.

It is also a critical week for negotiations between the U.K. and European Union on a trade deal, as current terms expire at the end of the year.

BBVA /zigman2/quotes/209653399/delayed ES:BBVA +1.60% /zigman2/quotes/204078760/composite BBVA +0.27% soared 19% after agreeing to sell its U.S. operations to PNC Financial Services /zigman2/quotes/203416310/composite PNC -0.47% for $11.6 billion. BBVA said PNC paid more than what any of the analysts covering the Spanish bank valued its U.S. operations.

The news sent Banco Sabadell /zigman2/quotes/206753237/delayed ES:SAB -2.53% up 20%, as it helped to rekindle previous speculation BBVA could buy it. Banco Santander /zigman2/quotes/205677933/delayed ES:SAN +1.86% /zigman2/quotes/202859081/composite SAN -0.54% rose 5%.

Vodafone Group /zigman2/quotes/202484985/delayed UK:VOD -3.90% /zigman2/quotes/202862751/composite VOD -5.59% rose 3%, as the mobile-phone operator reported a 1.9% decline in its half-year adjusted earnings before interest, depreciation and amortization, on a 2.3% drop in revenue. Vodafone maintained its dividend and reiterated its free cash flow and Ebitda guidance.

Unibail-Rodamco-Westfield /zigman2/quotes/207218984/delayed NL:URW -0.80% shares jumped 17%, after replacing its chairman with a director who was critical of the commercial-real-estate company’s strategic plans. A capital-raising plan was rejected by shareholders last week.

/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 44.06
-0.28 -0.63%
Volume: 23.74M
Feb. 3, 2023 4:02p
P/E Ratio
8.05
Dividend Yield
3.72%
Market Cap
$247.32 billion
Rev. per Employee
$1.27M
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 142.06
-2.34 -1.62%
Volume: 379,160
Feb. 3, 2023 4:00p
P/E Ratio
3.17
Dividend Yield
0.00%
Market Cap
$34.48 billion
Rev. per Employee
$6.61M
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/zigman2/quotes/210599654/delayed
XX : STOXX
460.77
+1.57 +0.34%
Volume: 0.00
Feb. 3, 2023 11:03p
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/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 173.25
-3.10 -1.76%
Volume: 2.82M
Feb. 3, 2023 4:00p
P/E Ratio
6.26
Dividend Yield
N/A
Market Cap
$66.56 billion
Rev. per Employee
$7.86M
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 33,865.00
-97.00 -0.29%
Volume: 9,033
Feb. 5, 2023 11:37p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
7,233.94
+67.67 +0.94%
Volume: 89,988
Feb. 3, 2023 6:05p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,476.43
-32.76 -0.21%
Volume: 0.00
Feb. 3, 2023 6:30p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,901.80
+81.64 +1.04%
Volume: 620,645
Feb. 3, 2023 4:55p
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/zigman2/quotes/210414141/delayed
UK : U.K.: London
890.00 p
+11.20 +1.27%
Volume: 1.07M
Feb. 3, 2023 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£12.15 billion
Rev. per Employee
N/A
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
172.30 p
-1.28 -0.74%
Volume: 10.09M
Feb. 3, 2023 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£8.54 billion
Rev. per Employee
£232,926
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/zigman2/quotes/209653399/delayed
ES : Spain: Madrid
6.91
+0.11 +1.60%
Volume: 16.19M
Feb. 3, 2023 5:38p
P/E Ratio
7.34
Dividend Yield
5.04%
Market Cap
€41.55 billion
Rev. per Employee
€239,460
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/zigman2/quotes/204078760/composite
US : U.S.: NYSE
$ 7.40
+0.02 +0.27%
Volume: 1.83M
Feb. 3, 2023 4:00p
P/E Ratio
7.29
Dividend Yield
4.00%
Market Cap
$45.11 billion
Rev. per Employee
$251,666
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/zigman2/quotes/203416310/composite
US : U.S.: NYSE
$ 165.39
-0.78 -0.47%
Volume: 1.51M
Feb. 3, 2023 4:00p
P/E Ratio
11.93
Dividend Yield
3.63%
Market Cap
$66.70 billion
Rev. per Employee
$396,157
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/zigman2/quotes/206753237/delayed
ES : Spain: Madrid
1.14
-0.03 -2.53%
Volume: 61.97M
Feb. 3, 2023 5:38p
P/E Ratio
8.03
Dividend Yield
0.00%
Market Cap
€6.34 billion
Rev. per Employee
€320,877
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/zigman2/quotes/205677933/delayed
ES : Spain: Madrid
3.50
+0.06 +1.86%
Volume: 100.52M
Feb. 3, 2023 5:38p
P/E Ratio
6.30
Dividend Yield
2.54%
Market Cap
€58.66 billion
Rev. per Employee
€474,912
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/zigman2/quotes/202859081/composite
US : U.S.: NYSE
$ 3.71
-0.02 -0.54%
Volume: 8.82M
Feb. 3, 2023 4:00p
P/E Ratio
6.33
Dividend Yield
2.03%
Market Cap
$63.69 billion
Rev. per Employee
$499,121
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/zigman2/quotes/202484985/delayed
UK : U.K.: London
91.14 p
-3.70 -3.90%
Volume: 120.38M
Feb. 3, 2023 4:35p
P/E Ratio
14.54
Dividend Yield
8.50%
Market Cap
£24.76 billion
Rev. per Employee
£375,003
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/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 10.97
-0.65 -5.59%
Volume: 12.87M
Feb. 3, 2023 4:00p
P/E Ratio
13.64
Dividend Yield
8.30%
Market Cap
$29.98 billion
Rev. per Employee
$479,477
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/zigman2/quotes/207218984/delayed
NL : Netherlands: Euronext Amsterdam
62.34
-0.50 -0.80%
Volume: 842,037
Feb. 3, 2023 5:35p
P/E Ratio
187.49
Dividend Yield
0.00%
Market Cap
€8.65 billion
Rev. per Employee
N/A
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