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The most promising news yet of a viable coronavirus vaccine sparked a sharp and broad-based rally in Western markets today, with the FTSE 100 enjoying its best day since March.
Britain’s index of leading shares surged by 4.7 per cent, or 276.27 points, to close at 6,186.29, as America’s Dow Jones industrial average soared by more than 1,500 points to hit a new intraday high.
Pfizer, the US drugmaker, and Biontech, its German partner, surpassed expectations with preliminary results from their late-stage Covid-19 vaccine trial, providing a shot in the arm to investors desperate for news about the viability of several promising jabs.
Analysts were surprised by the apparent effectiveness of the vaccine. The companies said that it worked 90 per cent of the time
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