London | Stockmarkets exploded with euphoria after drug companies Pfizer and BioNTech said their COVID-19 vaccine was proving 90 per cent effective, fuelling hopes that an end to the pandemic nightmare is within reach.
The US, French, German and British markets piled on well over 4 per cent in a frenzied mid-morning surge on Monday, with some stocks in the airline, leisure and hospitality stocks soaring as much as 40 per cent.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
