European stocks ahead in early deals

LONDON (AFP) – European stocks rose yesterday in early morning deals, with London edging higher after Britain became the first nation to approve a coronavirus vaccine from drug firm AstraZeneca and Oxford University.

In initial trade, London’s benchmark FTSE 100 index was up 0.1 per cent to stand at 6,605.79 points, with AstraZeneca adding 0.7 per cent at 7,516.90 pence.

In the eurozone, Frankfurt’s DAX 30 index also added 0.1 per cent to 13,776.24 points and the Paris CAC 40 gained 0.2 per cent to 5,622.74. “Oxford-AstraZeneca’s covid vaccine finally got the green light,” said AvaTrade analyst Naeem Aslam. “This is certainly good news.

Another major company getting its vaccine approved by the lawmakers will further improve the coronavirus situation as the number of Covid cases are ticking higher over in Europe and in the United States.”

Britain will start rolling out the vaccine from January 4. The jab can be stored, transported and handled at normal refrigerated conditions, and is therefore cheaper and easier to administer than the Pfizer/BioNTech and Moderna vaccines that require freezing.