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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 +1.00% and German partner BioNTech’s /zigman2/quotes/214419716/composite BNTX +9.35% coronavirus vaccine showed it was 90% effective, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.89% surged 1.4%, after Moderna /zigman2/quotes/205619834/composite MRNA +1.65% said its coronavirus vaccine candidate was more than 94% effective.

Futures on the Dow Jones Industrial Average /zigman2/quotes/210407078/delayed YM00 +0.79% rose 513 points.

The French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.45% , German DAX /zigman2/quotes/210597999/delayed DX:DAX +1.34% and U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.76% extended gains after the Moderna news. Hard-hit European companies such as cruise operator Carnival /zigman2/quotes/210414141/delayed UK:CCL +2.34% and International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG +3.00% 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 +0.31% /zigman2/quotes/204078760/composite BBVA +1.20% soared 19% after agreeing to sell its U.S. operations to PNC Financial Services /zigman2/quotes/203416310/composite PNC +0.37% 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 +1.80% up 20%, as it helped to rekindle previous speculation BBVA could buy it. Banco Santander /zigman2/quotes/205677933/delayed ES:SAN -0.08% /zigman2/quotes/202859081/composite SAN +0.77% rose 5%.

Vodafone Group /zigman2/quotes/202484985/delayed UK:VOD -0.14% /zigman2/quotes/202862751/composite VOD +0.35% 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 +0.98% 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
$ 39.58
+0.39 +1.00%
Volume: 33.81M
May 7, 2021 4:02p
P/E Ratio
23.15
Dividend Yield
3.94%
Market Cap
$218.61 billion
Rev. per Employee
$533,860
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 183.71
+15.71 +9.35%
Volume: 4.46M
May 7, 2021 4:00p
P/E Ratio
1,753
Dividend Yield
N/A
Market Cap
$40.58 billion
Rev. per Employee
$283,276
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/zigman2/quotes/210599654/delayed
XX : STOXX
444.93
+3.91 +0.89%
Volume: 0.00
May 7, 2021 11:03p
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/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 163.15
+2.65 +1.65%
Volume: 11.95M
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$64.23 billion
Rev. per Employee
$617,996
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 34,714.00
+272.00 +0.79%
Volume: 166,967
May 7, 2021 3:59p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,385.51
+28.42 +0.45%
Volume: 78,606
May 7, 2021 6:05p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,399.65
+202.91 +1.34%
Volume: 74,562
May 7, 2021 6:30p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,129.71
+53.54 +0.76%
Volume: 605,971
May 7, 2021 4:59p
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/zigman2/quotes/210414141/delayed
UK : U.K.: London
1,626.20 p
+37.20 +2.34%
Volume: 663,856
May 7, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£20.70 billion
Rev. per Employee
N/A
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
213.20 p
+6.20 +3.00%
Volume: 34.36M
May 7, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£10.29 billion
Rev. per Employee
£120,743
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/zigman2/quotes/209653399/delayed
ES : Spain: Madrid
4.82
+0.02 +0.31%
Volume: 13.97M
May 7, 2021 5:38p
P/E Ratio
24.51
Dividend Yield
0.00%
Market Cap
€31.98 billion
Rev. per Employee
€267,370
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/zigman2/quotes/204078760/composite
US : U.S.: NYSE
$ 5.91
+0.07 +1.20%
Volume: 1.38M
May 7, 2021 4:00p
P/E Ratio
24.01
Dividend Yield
0.00%
Market Cap
$38.56 billion
Rev. per Employee
$304,795
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/zigman2/quotes/203416310/composite
US : U.S.: NYSE
$ 198.91
+0.73 +0.37%
Volume: 1.19M
May 7, 2021 4:00p
P/E Ratio
10.37
Dividend Yield
2.31%
Market Cap
$84.20 billion
Rev. per Employee
$355,737
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/zigman2/quotes/206753237/delayed
ES : Spain: Madrid
0.61
+0.01 +1.80%
Volume: 57.53M
May 7, 2021 5:38p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€3.35 billion
Rev. per Employee
€281,406
loading...
/zigman2/quotes/205677933/delayed
ES : Spain: Madrid
3.22
-0.0025 -0.08%
Volume: 54.49M
May 7, 2021 5:38p
P/E Ratio
N/A
Dividend Yield
0.86%
Market Cap
€55.72 billion
Rev. per Employee
€337,634
loading...
/zigman2/quotes/202859081/composite
US : U.S.: NYSE
$ 3.91
+0.03 +0.77%
Volume: 5.53M
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$67.19 billion
Rev. per Employee
$384,895
loading...
/zigman2/quotes/202484985/delayed
UK : U.K.: London
141.82 p
-0.20 -0.14%
Volume: 33.81M
May 7, 2021 4:35p
P/E Ratio
18.04
Dividend Yield
5.68%
Market Cap
£39.85 billion
Rev. per Employee
£423,083
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/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 20.02
+0.07 +0.35%
Volume: 2.52M
May 7, 2021 4:00p
P/E Ratio
19.98
Dividend Yield
5.25%
Market Cap
$55.35 billion
Rev. per Employee
$537,274
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/zigman2/quotes/207218984/delayed
NL : Netherlands: Euronext Amsterdam
71.17
+0.69 +0.98%
Volume: 609,984
May 7, 2021 5:37p
P/E Ratio
N/A
Dividend Yield
7.59%
Market Cap
€9.76 billion
Rev. per Employee
N/A
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