France’s CAC 40 fell by 0. 2% in the first operations to 5,460. 09, while Germany’s DAX fell by almost 0. 2% to 13,119. 47. Britain’s FTSE 100 fell 0. 4% to 6395. 76. US stocks are expected to fall, and Dow futures are expected to fall by 0. 2% to 29810. 0. Future
Moderna said its COVID-19 vaccine appears to be 94. 5% effective, according to initial data. This is the time this month when a company has announced such encouraging figures about a vaccine, reinforcing hopes that the global economy can return to an appearance. normality next year.
Japan’s Nikkei 225 benchmark up 0. 4% to finish in 26014. 62, a 29-year high.
“Vaccine fervor continued in the new week with even better results, more encouraging markets to anticipate a virus-free truth in the not-too-distant future,” said Jingyi Pan, senior IG market strata in Singapore. Markets in Asia -The Pacific region continues to enjoy vaccines. “
Although a new outbreak of COVID-19 infections hits Japan, the economy recovered in the third quarter. Recovery has still reached prepandemic levels, but these symptoms raise optimism about a return to business normalcy in the world’s third-largest quarter. Economy.
Fitch Solutions Country Risk and Industry Research revised its expansion forecast for Japan this year to a more moderate contraction of 6. 3%, with an earlier forecast of an 8. 8% contraction. By 2021, Fitch expects a 2. 7% return to expansion, which is higher than its previous 2. 1% expansion forecast.
“In 2021, we thought that hosting the Summer Olympics and the most likely availability of a COVID-19 vaccine can lead to a more potent increase in domestic demand, leading to a review of our forecasts,” he said.
The Tokyo Games have been postponed for a year until the summer of 2021. The president of the International Olympic Committee, Thomas, who was visiting Tokyo this week, wanted to send a message of security that the Games will continue next year.
Bach said a “reasonable number” of enthusiasts deserve to be able to make a stopover on site, vaccinated or not, and under pressure that he was looking for “as many foreign participants as imaginable to settle for a vaccine. “
Risks remain for global markets. Even if vaccines are approved regardless, it is unclear when they will be widely distributed.
The pandemic continues to worsen, with an increase in the number of coronaviruses in the United States and Europe that led governments to reduce varying degrees of restrictions on businesses. Some sectors of the U. S. economy have slowed down, especially after the expiration of primary monetary systems. through Congress.
In energy trade, the reference U. S. crude oil fell 20 cents to $41. 14 a barrel, while Brent crude, the foreign standard, fell thirteen cents to $43. 69 a barrel.
In foreign exchange trading, the dollar fell to 104. 26 Japanese yen from 104. 90 yen. The euro charges $1,1869, with $1,1845.
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AP Business editors Stan Choe and Damian J. Three contributed to this report.
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