The progress that Pfizer claims to have made in the search for a vaccine against Covid has triggered the global stock markets and, especially, the Ibex 35, which has been severely punished by the coronavirus crisis. Such has been the rebound of the main Spanish index that the largest increase in 10 years after increasing 8.6% and is close to 7,500 points when at the beginning of the session it was below 7,000 integers.
Especially spectacular has been the upturn in tourist stocks and banks. Melia Hotels e IAG, two of the most penalized values since March, have registered increases of 37% and 26%, respectively. Bankinter, Santande Bankro Sabadell Bank, for their part, they have advanced close to 20%. And also in the environment of that 20% have been Colonial O Repsol.
All these increases, and of course increases as notable as the 14% that the giant Inditex has registered or the 15% that Amadeus or Aena have rebounded, companies that are among the 10 largest in the Ibex, have allowed the value of all the companies that make up the Ibex has increased by more than 39,000 million euros in just one session. And to contextualize this data, it should also be taken into account that up to six values closed negatively, with drops of up to 8% in the case of Pharma Mar or 6% in that of Solaria and Cellnex.
The definitive electoral victory of Joe Biden in the United States had caused the Stock Exchanges to start the first session positively after the news was known, but those gains have skyrocketed at the same moment in which Pfizer has communicated that its vaccine against Covid-19, developed together with BioNTech, is “90% effective“, according to the first interim analysis of its phase 3 trial.
The pharmacy itself scored about 12% mid-session, at which time the US Stock Exchanges reduced the increase of up to 5% with which they had started the day, although they remained in high areas. In Europe, at the close, the increases have also been relevant, although in all cases lower than those registered by the Ibex to a large extent because, as has already been pointed out, the Spanish index has been the highest s has suffered the impact of the crisis.
Beyond the Stock Exchanges, the market as a whole has also reacted by showing that progress in research could be a major support for the ailing world economy. Thus, oil has registered increases close to 9%, which has allowed Brent oil, a benchmark in Europe, to reach 42 dollars a barrel. And gold, a safe haven value par excellence in adverse times, has fallen by about 5%, as a result of sales by investors, causing the value to fall to $ 1,854 an ounce.
Restrictions and economic recovery
“Vaccine news has injected optimism among tour companies. Oil has also risen as any signs of recovery in the travel sector would stimulate demand. However, and although obviously it is a step positive, there is still a long way to go. Pfizer will only be able to ship its vaccine for emergency use after at least two months of data collection” explains Adam Vetesse, an analyst at eToro, in his analysis of the trading session.
“The expectations of advances in the development of tests and vaccines against the coronavirus pothey could foreseeably soften the measures of restriction of mobility earlier than expected, improving the prospects for economic recovery and for the sectors most affected by the pandemic “, added from Singular Bank.
This same entity emphasizes that the advances “have been known in a situation in which the negative evolution of the epidemiological situation continues”. Specifically, they state, “the number of contagion cases has exceeded 50 million, of which around 10 million are concentrated in the United States where in the last four days the new daily cases have risen to over 100,000 “.
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