THE FTSE 100 rose this morning after news a Covid vaccine developed in the UK can stop up to 90% of people from getting the virus.
The London stock market went up by 0.59% to 6,388.86 when it opened at 8am this morning.
The FTSE 100 saw an uplift this morning after news a UK Covid vaccine is found to be a success
It’s the third Covid-19 vaccine to have positive preliminary results in three weeks.
The footsie index tracks the performance of the UK’s 100 biggest companies.
The markets hope that a vaccine will stabilise the economy.
Today’s boost to the stock exchange isn’t as big as it was when Pfizer’s announced its coronavirus jab showed 90% effectiveness, causing the FTSE 100 to jump by 5.5%.
Last week, the markets soared by 1.8% after Moderna said that its vaccine was found to be 94.5% effective.
There are other factors that affect the FTSE 100 which may have caused investors to hold back.
This afternoon, Prime Minister Boris Johnson is expected to announce what coronavirus restrictions will be in place in England after lockdown ends on December 2.
A decision on the reopening of the retail and leisure industry ahead of Christmas could see an even bigger jump to the markets.
The Oxford/AstraZeneca vaccine – called ChAdOx1 nCoV-19 – uses a harmless, weakened version of a common virus which causes a cold in chimpanzees.
Britain has already ordered 100 million doses – which is cheaper and easier to store than Pfizer and Moderna’s.
It has also been shown to work in different age groups, including the elderly, and there were no hospitalised or severe cases in anyone who received the jab.
Four million expected to be ready before the end of the year, if it gets regulatory approval.
On March 12, 2020, the markets crashed 10.9% in a day to finish at 5,237.00 points, in one of the worst days since Blank Monday in 1987.
Since then, the pandemic has continued to have an impact – in September the FTSE 100 crashed by 3.5% over fears the UK would go into a second lockdown.
