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Travel, Commodity Stocks Lift British Shares on Vaccine Optimism

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Nov 23 Reuters London stocks rose on Monday, extending their threeweek rally, as travel and commodity stocks jumped after positive vaccine data from AstraZeneca, with hopes of a post Brexittrade deal with European Union, also lifting the mood.

The bluechip FTSE 100 index gained 0.3, after drugmaker AstraZeneca Plc said its vaccine for the novel coronavirus, developed along with the University of Oxford, could be around 90 effective without any serious side effects.

Energy, mining and aero were among the biggest gainers on the index. The domestically focused midcap FTSE 250 added 0.7 with travel and leisure stocks providing the biggest boost.

UK markets have already jumped more than 14 this month, after PfizerBioNTech and Modernas vaccines showed similar responses in preventing COVID19 based on interim data from a latestage trial, raising hopes of a soonerthan expected recovery from the pandemicdriven recession.

Adding to the mood, British health minister said UK aims to rollout a COVID19 vaccine before Christmas, with life getting back to normal after Easter.

Reporting by Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty

Source Reuters

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