Markets surge as Pfizer vaccine prevents 90% of Covid cases

November 09, 2020 16:39

Global stock markets and risk assets have soared higher as the first effective coronavirus vaccine showed it can prevent 90% of people from contracting Covid-19. The developers of the vaccine – Pfizer and BioNTech – said that their vaccine has been tested on 43,500 people in six countries with no safety concerns being raised.

The companies have said they can produce 1.3 billion doses by the end of 2021 with about 50 million in 2020. The studies showed that two doses need to be taken three weeks apart. While the data is not the final analysis, investors saw this as a positive sign.

Stock markets around the world surged higher with most of the gains in European indices such as the German DAX 30 and France CAC 40. European countries have been hit particularly hard with the second wave of coronavirus so a vaccine would be welcome. After the news, the DAX 30 ended the day up more than 5% with the CAC 40 up more than 7%.

US stock market indices also surged higher with shares in Pfizer soaring more than 10% higher at one point. Safe-haven assets such as gold, silver, the Japanese yen and Swiss franc all fell in a volatile session for currency markets.

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How to trade the DAX 30 with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of the DAX 30 you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in DAX 30 and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

DAX 30

Source: Admiral Markets MetaTrader 5, DAX30, Monthly – Data range: Nov 1, 2005, to Nov 9, 2020, performed on Nov 9, 2020, at 4:53 pm BST. Please note: Past performance is not a reliable indicator of future results.

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