Bulletin
Investor Alert

Europe Markets Archives | Email alerts

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

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Pfizer Inc. (PFE)
  • X
    BioNTech SE ADR (BNTX)
  • X
    STOXX Europe 600 Index (SXXP)

or Cancel Already have a watchlist? Log In

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 -0.57% and German partner BioNTech’s /zigman2/quotes/214419716/composite BNTX -5.53% coronavirus vaccine showed it was 90% effective, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.90% surged 1.4%, after Moderna /zigman2/quotes/205619834/composite MRNA -5.38% said its coronavirus vaccine candidate was more than 94% effective.

Futures on the Dow Jones Industrial Average /zigman2/quotes/210407078/delayed YM00 +0.36% rose 513 points.

The French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.95% , German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.72% and U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.38% extended gains after the Moderna news. Hard-hit European companies such as cruise operator Carnival /zigman2/quotes/210414141/delayed UK:CCL +2.35% and International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG +1.96% 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 +1.63% /zigman2/quotes/204078760/composite BBVA +1.69% soared 19% after agreeing to sell its U.S. operations to PNC Financial Services /zigman2/quotes/203416310/composite PNC +0.46% 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 +0.57% up 20%, as it helped to rekindle previous speculation BBVA could buy it. Banco Santander /zigman2/quotes/205677933/delayed ES:SAN +0.52% /zigman2/quotes/202859081/composite SAN +0.28% rose 5%.

Vodafone Group /zigman2/quotes/202484985/delayed UK:VOD -0.47% /zigman2/quotes/202862751/composite VOD -0.94% 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 -1.26% 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
$ 43.94
-0.25 -0.57%
Volume: 16.15M
Sept. 24, 2021 4:02p
P/E Ratio
18.81
Dividend Yield
3.55%
Market Cap
$246.36 billion
Rev. per Employee
$533,860
loading...
/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 333.48
-19.51 -5.53%
Volume: 2.60M
Sept. 24, 2021 4:00p
P/E Ratio
17.50
Dividend Yield
N/A
Market Cap
$80.87 billion
Rev. per Employee
$283,276
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
463.29
-4.21 -0.90%
Volume: 0.00
Sept. 24, 2021 11:03p
loading...
/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 430.14
-24.46 -5.38%
Volume: 12.98M
Sept. 24, 2021 4:00p
P/E Ratio
53.70
Dividend Yield
N/A
Market Cap
$173.62 billion
Rev. per Employee
$617,996
loading...
/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 34,800.00
+126.00 +0.36%
Volume: 6,104
Sept. 26, 2021 7:16p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,638.46
-63.52 -0.95%
Volume: 70,090
Sept. 24, 2021 6:05p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,531.75
-112.22 -0.72%
Volume: 49,966
Sept. 24, 2021 6:30p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,051.48
-26.87 -0.38%
Volume: 0.00
Sept. 24, 2021 4:52p
loading...
/zigman2/quotes/210414141/delayed
UK : U.K.: London
1,683.20 p
+38.60 +2.35%
Volume: 1.56M
Sept. 24, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£20.72 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208070069/delayed
UK : U.K.: London
175.60 p
+3.38 +1.96%
Volume: 26.34M
Sept. 24, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£8.71 billion
Rev. per Employee
£120,743
loading...
/zigman2/quotes/209653399/delayed
ES : Spain: Madrid
5.66
+0.09 +1.63%
Volume: 27.45M
Sept. 24, 2021 5:38p
P/E Ratio
9.09
Dividend Yield
0.00%
Market Cap
€37.67 billion
Rev. per Employee
€267,370
loading...
/zigman2/quotes/204078760/composite
US : U.S.: NYSE
$ 6.62
+0.11 +1.69%
Volume: 1.17M
Sept. 24, 2021 4:00p
P/E Ratio
8.93
Dividend Yield
0.00%
Market Cap
$44.12 billion
Rev. per Employee
$304,795
loading...
/zigman2/quotes/203416310/composite
US : U.S.: NYSE
$ 194.50
+0.89 +0.46%
Volume: 1.20M
Sept. 24, 2021 4:00p
P/E Ratio
14.75
Dividend Yield
2.57%
Market Cap
$82.66 billion
Rev. per Employee
$355,737
loading...
/zigman2/quotes/206753237/delayed
ES : Spain: Madrid
0.67
+0.0038 +0.57%
Volume: 39.82M
Sept. 24, 2021 5:38p
P/E Ratio
49.66
Dividend Yield
0.00%
Market Cap
€3.71 billion
Rev. per Employee
€281,406
loading...
/zigman2/quotes/205677933/delayed
ES : Spain: Madrid
3.10
+0.02 +0.52%
Volume: 28.57M
Sept. 24, 2021 5:38p
P/E Ratio
9.66
Dividend Yield
0.89%
Market Cap
€53.65 billion
Rev. per Employee
€337,634
loading...
/zigman2/quotes/202859081/composite
US : U.S.: NYSE
$ 3.64
+0.01 +0.28%
Volume: 1.70M
Sept. 24, 2021 4:00p
P/E Ratio
9.51
Dividend Yield
0.00%
Market Cap
$62.84 billion
Rev. per Employee
$384,895
loading...
/zigman2/quotes/202484985/delayed
UK : U.K.: London
113.80 p
-0.54 -0.47%
Volume: 50.38M
Sept. 24, 2021 4:35p
P/E Ratio
598.95
Dividend Yield
6.87%
Market Cap
£31.35 billion
Rev. per Employee
£372,306
loading...
/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 15.85
-0.15 -0.94%
Volume: 3.88M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
6.64%
Market Cap
$42.88 billion
Rev. per Employee
$486,182
loading...
/zigman2/quotes/207218984/delayed
NL : Netherlands: Euronext Amsterdam
65.57
-0.84 -1.26%
Volume: 368,952
Sept. 24, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€9.09 billion
Rev. per Employee
N/A
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.