FTSE 100 Ticks Up on US Vaccine News
Published / Last Updated on 02/09/2020
The FTSE 100 rose for the first time in 4 sessions, as house prices rose unexpectedly together with the announcement to fast track a coronavirus vaccine in the US.
The FTSE 100 dropped 1.7% yesterday and blue chip stocks initially recovered 1.4% or 82 points to 5,944 after the announcement from Matt Hancock health secretary saying the law could be changed and a coronavirus vaccine could be available before Christmas.
Shares in pharmaceutical AstraZeneca (AZN) grew 1.1% or 95p to £82.92 after joining with the University of Oxford to develop a vaccine.
In addition, the stamp duty holiday and house prices hitting a record high pushed construction and housebuilder shares higher.
Comment
No doubt markets will fall back again as more news will no doubt follow later this week on job losses, economic slowdown etc. The bouncing ball of stock markets will be here for some time yet.