Moderna Covid-19 shows 94,5% efficiency
Moderna announced interim research had shown that its Covid-19 vaccine candidate proved to be 94,5% effective in the prevention of the virus. In addition, the company also revealed that the formula used in the vaccine could last up to 30 days when kept at standard refrigerator temperatures. The study undertaken involved more than 30 000 participants from the US who had each received two doses of the vaccine. Further plans are to submit the vaccine for Emergency Use Authorisation with the Food and Drug Administration within the next few weeks. Moderna further expects the production of around 20m doses in the last few months of 2020 with an increase to 1bn in 2021.
Oil extends its gains, jumps 3%
All futures saw a substantial increase in prices following the news that Moderna’s vaccine had showed 94,5% effectivity in the fight against Covid-19. Brent for January 2021 saw an increase of 3,55% to a price of $44,29 per barrel, while West Texas Intermediate saw settlements in December 2020 jump by 3,79% to sell at $41,65 per barrel.
Indexes soar thanks to vaccine news
Major US indexes also saw a substantial rise. Shares of airlines, cruise lines, hotels and restaurant companies experienced considerable gains as news of the latest vaccine data spread, showing investors and consumers they may return to such businesses with increased enthusiasm. The Dow Jones saw a substantial rise of over 500 points or 1,8%, and while contracts on the S&P 500 also rose, the Nasdaq 100 appeared to stay closer to the flatline.
This proved to be a positive opening for global indexes with more surges anticipated for the week.