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| - Global financial markets soared Monday as news of a successful coronavirus vaccine trial and Joe Biden's US election victory bolstered investor confidence, sending New York to record highs. Already up strongly in on Biden's victory, markets massively accelerated gains after Pfizer and its German partner BioNTech said a Phase 3 trial showed that their vaccine was 90 percent effective in preventing Covid-19 infections. "Pfizer's Covid-19 vaccine news has acted like a shot of adrenaline for the markets, triggering one of the biggest single day movements in global equities for a long time," said Russ Mould, investment director at AJ Bell. "A successful vaccine has greater significance than Joe Biden winning the US election as it would effectively pave the way to restarting economic growth globally," Mould added. In New York, stocks rose sharply ahead of the official opening, with Pfizer itself up 15 percent as analysts hailed the vaccine news as a breakthrough after months of mounting cases and deaths, especially in the US and Europe. Shortly after the open, the benchmark DJIA was was up 5.4 percent to 29,839.45 points, beating the record set February 12 of 29,551,42. Gains of four and five percent were made across the board but some of the sectors hit worst by the pandemic -- airlines and hospitality -- did even better. British Airways parent IAG was up more than 25 percent while air France-KLM and Lufthansa made similar jumps. Conversely some of the companies which have benefited massively as suppliers of goods and services sought by virus lockdown citizens around the world fell back, with Amazon losing some five percent before steadying. "Stock markets surged on some extremely positive news from Pfizer and BioNTech," said Neil Wilson, chief market analyst at Markets.com. "Coming on top of the wave of relief from Joe Biden's victory, it's proving a spicy cocktail for stocks." Oil prices were also up sharply, with New York crude adding 10 percent and Brent North Sea oil up 9.0 percent. Stock markets began rallying Monday as Biden's election win was taken to mean less uncertainty and providing hope that the US would finally agree on a stimulus package to prop up the ailing economy. While Democrat Biden has secured enough votes for victory, Republican rival Donald Trump has refused to accept defeat, with legal challenges and recounts looming. Oanda analyst Craig Erlam said Trump's actions are seen by markets "as achieving nothing more than delaying the inevitable". On Monday in Asia, Tokyo's main stocks index closed up more than two percent to end at a 29-year high before the seismic Pfizer announcement. New York - Dow: UP 5.4 percent at 29,839.45 London - FTSE 100: UP 5.5 percent at 6,235.56 points Frankfurt - DAX 30: UP 6.3 percent at 13,264.15 Paris - CAC 40: UP 6.6 percent at 5,367.56 EURO STOXX 50: UP 7.1 percent at 3,431.02 West Texas Intermediate: UP 10.2 percent at $40.94 per barrel Brent North Sea crude: UP 9.0 percent at $43.01 per barrel Euro/dollar: UP at $1.1893 from $1.1872 at 2215 GMT Dollar/yen: UP at 105.03 yen from 103.33 yen Pound/dollar: UP at $1.3182 from $1.3156 Tokyo - Nikkei 225: UP 2.1 percent to 24,839.84 (close) Hong Kong - Hang Seng: UP 1.2 percent to 26,016.17 (close) Shanghai - Composite: UP 1.9 percent to 3,373.73 (close) burs/bmm/rl
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