FTSE 100 LIVE: Index surges and European stocks reach 8-month high amid Covid vaccine | City & Business | Finance

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Drugs company Pfizer’s own shares jumped by 9 percent after it revealed that a potential vaccine has been found to be 90 percent effective based on initial trial results. The FTSE 100 index went up by 5 percent as European stocks closed on Monday at an eight-month high due to vaccine hopes.

STOXX Europe 600 ended the day 4 percent higher at 380.99 which was its best day since early May.

Germany’s DAX index was also up by 5 percent at 13,095.97 while France’s CAC 40 rocketed up by 7 percent at 5,336.32.

Online brokers struggled to keep up with the high levels of demand to buy shares and funds on Monday following the vaccine trial results announcement. 

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