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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 -1.40% coronavirus vaccine showed it was 90% effective, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.72% surged 1.4%, after Moderna /zigman2/quotes/205619834/composite MRNA +0.10% said its coronavirus vaccine candidate was more than 94% effective.

Futures on the Dow Jones Industrial Average /zigman2/quotes/210407078/delayed YM00 +0.76% rose 513 points.

The French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.53% , German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.77% and U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.41% extended gains after the Moderna news. Hard-hit European companies such as cruise operator Carnival /zigman2/quotes/210414141/delayed UK:CCL -0.65% and International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG +1.38% 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 +0.72% /zigman2/quotes/204078760/composite BBVA +0.41% soared 19% after agreeing to sell its U.S. operations to PNC Financial Services /zigman2/quotes/203416310/composite PNC +0.17% 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 -0.08% up 20%, as it helped to rekindle previous speculation BBVA could buy it. Banco Santander /zigman2/quotes/205677933/delayed ES:SAN +0.17% /zigman2/quotes/202859081/composite SAN -0.61% rose 5%.

Vodafone Group /zigman2/quotes/202484985/delayed UK:VOD +0.11% /zigman2/quotes/202862751/composite VOD +0.29% 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 +0.33% 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
$ 36.50
-0.23 -0.63%
Volume: 35.28M
Jan. 20, 2021 4:00p
P/E Ratio
23.64
Dividend Yield
4.27%
Market Cap
$204.16 billion
Rev. per Employee
$586,070
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 103.23
-1.47 -1.40%
Volume: 1.61M
Jan. 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$25.21 billion
Rev. per Employee
$92,777
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/zigman2/quotes/210599654/delayed
XX : STOXX
410.84
+2.92 +0.72%
Volume: 0.00
Jan. 20, 2021 5:50p
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/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 125.14
+0.13 +0.10%
Volume: 7.98M
Jan. 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$49.47 billion
Rev. per Employee
$72,541
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 31,063.00
+235.00 +0.76%
Volume: 139,164
Jan. 20, 2021 3:59p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,628.44
+29.83 +0.53%
Volume: 70,643
Jan. 20, 2021 6:05p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,921.37
+106.31 +0.77%
Volume: 65,212
Jan. 20, 2021 6:30p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,740.39
+27.44 +0.41%
Volume: 678,050
Jan. 20, 2021 4:58p
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/zigman2/quotes/210414141/delayed
UK : U.K.: London
1,304.00 p
-8.50 -0.65%
Volume: 1.29M
Jan. 20, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£14.32 billion
Rev. per Employee
N/A
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
161.85 p
+2.20 +1.38%
Volume: 17.05M
Jan. 20, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
6.43%
Market Cap
£7.93 billion
Rev. per Employee
£346,172
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/zigman2/quotes/209653399/delayed
ES : Spain: Madrid
4.05
+0.03 +0.72%
Volume: 18.62M
Jan. 20, 2021 5:38p
P/E Ratio
N/A
Dividend Yield
5.20%
Market Cap
€26.70 billion
Rev. per Employee
€342,553
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/zigman2/quotes/204078760/composite
US : U.S.: NYSE
$ 4.94
+0.02 +0.41%
Volume: 1.42M
Jan. 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
4.66%
Market Cap
$32.38 billion
Rev. per Employee
$383,402
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/zigman2/quotes/203416310/composite
US : U.S.: NYSE
$ 156.26
+0.26 +0.17%
Volume: 1.63M
Jan. 20, 2021 4:00p
P/E Ratio
9.17
Dividend Yield
2.94%
Market Cap
$66.10 billion
Rev. per Employee
N/A
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/zigman2/quotes/206753237/delayed
ES : Spain: Madrid
0.38
-0.0003 -0.08%
Volume: 33.50M
Jan. 20, 2021 5:38p
P/E Ratio
5.62
Dividend Yield
0.00%
Market Cap
€2.14 billion
Rev. per Employee
€281,804
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/zigman2/quotes/205677933/delayed
ES : Spain: Madrid
2.69
+0.0045 +0.17%
Volume: 56.05M
Jan. 20, 2021 5:38p
P/E Ratio
N/A
Dividend Yield
2.89%
Market Cap
€46.52 billion
Rev. per Employee
€405,338
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/zigman2/quotes/202859081/composite
US : U.S.: NYSE
$ 3.27
-0.02 -0.61%
Volume: 4.30M
Jan. 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
2.77%
Market Cap
$56.42 billion
Rev. per Employee
$453,674
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/zigman2/quotes/202484985/delayed
UK : U.K.: London
127.14 p
+0.14 +0.11%
Volume: 83.54M
Jan. 20, 2021 4:35p
P/E Ratio
16.18
Dividend Yield
6.27%
Market Cap
£34.08 billion
Rev. per Employee
£423,083
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/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 17.51
+0.05 +0.29%
Volume: 2.25M
Jan. 20, 2021 4:00p
P/E Ratio
17.48
Dividend Yield
5.93%
Market Cap
$46.40 billion
Rev. per Employee
$537,274
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/zigman2/quotes/207218984/delayed
NL : Netherlands: Euronext Amsterdam
60.58
+0.20 +0.33%
Volume: 611,776
Jan. 20, 2021 5:39p
P/E Ratio
N/A
Dividend Yield
8.91%
Market Cap
€8.36 billion
Rev. per Employee
N/A
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