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Hope for vaccines sparks euphoria in Europe’s stock markets | Free Press

Much is in store for CEO Degenhart’s successor. Much of the workforce is concerned about the reduction. Management and unions want to get closer.

Frankfurt / Paris / London (dpa) – A probable significant success in the development of a corona vaccine gave a strong boost to European stock exchanges on Monday.

The Dax reached the 13,000 point mark for the first time since mid-October. At lunchtime, it was up 4.6 percent to 13,051.63 points. The leading euro zone index, EuroStoxx 50, gained 4.9 percent to 3,362.09 points, and Paris, London, Milan and Madrid also continued to climb sharply.

As announced by Mainz-based pharmaceutical company Biontech, its vaccine offers more than 90 percent protection against Covid-19 based on interim results from a major study phase. Biontech and the US pharmaceutical company Pfizer now plan to apply for approval from the US FDA in the near future.

Earlier, Democrat Joe Biden’s victory in the US presidential election campaign fueled the recovery rally in the Dax and across Europe again after a setback on Friday. Meanwhile, the Dax has closed the gap since October, when the second wave crowns with its partial lockdowns sent investors’ economic worries flared again.