BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks ended higher on Wednesday, extending recent gains, as continued optimism about a coronavirus vaccine resulted in brisk buying at several counters.
An announcement from Pfizer Inc. and BioNTech earlier this week about their Covid-19 vaccine proving to be more than 90% effective in preventing the infection lifted stock prices on Monday and Tuesday.
Another positive trigger for the market is the USFDA nod for Eli Lilly's antibody-drug earlier this week, for the medicine to be used for treading mild-to-moderate cases of coronavirus infections in older patients.
The pan European Stoxx 600 advanced 1.08%. The U.K.'s FTSE 100 gained 1.35%, Germany's DAX climbed 0.4% and France's CAC 40 added 0.48%, while Switzerland's SMI jumped 1.66%.
Among other markets in Europe, Austria, Czech Republic, Denmark, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey closed higher, while Belgium and Finland ended weak.
In the UK market, IAG shares soared more than 8%. Segro, Ocado Group, Kingfisher, B&M, Flutter Entertainment and Hikma Pharmaceuticals moved up 4 to 6%.
United Utilities, Lloyds Banking, Just Eat Takeaway, 3i Group, HSBC Holdings, Morrison Supermarkets, GVC Holdings, British American Tobacco, Natwest and AstraZeneca gained 3 to 4%.
BAE Systems rose 2.5%. The defense giant said it expects its business to continue growing under the Joe Biden administration.
Rolls-Royce Holdings shares tumbled about 8%. Smiths Group slid 4.5%, while Informa lost about 3.1% despite saying it is on track to deliver positive free cash flow from early 2021, with over £1bn of available liquidity.
Croda International, Intercontinental Hotels, Standard Life and Smith & Nephew lost 2 to 3%.
In the German market, RWE shares gained nearly 3%. Deutsche Telekom and Merck moved up by about 2.7% and 2.5%, respectively, while Linde, Vonovia, Deutsche Post, SAP, BMW and Deutsche Telekom gained 1 to 2%.
Shares of IT firm Bechtle rose sharply earlier in the day, riding on strong third-quarter results.
On the other hand, Continental, MTU Aero Engines, Thyssenkrupp, Munich RE and Lufthansa lost 2 to 4%.
In France, Sanofi surged up more than 2.5%. Dassault Systemes, LVMH, Saint Gobain, Hermes International, Atos, Teleperformance, Kering, Carrefour and STMicroElectronics also closed notably higher.
Unibail Rodamco declined more than 8%. Sodexo shed more than 4%, while Technip, Accor, Societe Generale, BNP Paribas, Safran and Vinci ended lower by 2 to 4%.
In economic news, European Central Bank President Christine Lagarde hinted that ECB Policymakers are set to favor asset purchases and longer term loans at cheaper rates to support the euro area economy during the crisis caused by the coronavirus, or Covid-19, pandemic.
Lagarde had clearly signaled late last month that the bank is set to unveil fresh monetary stimulus in December.
She also cautioned against high optimism regarding a vaccine against the coronavirus. 'While all options are on the table, the PEPP and TLTROs have proven their effectiveness in the current environment and can be dynamically adjusted to react to how the pandemic evolves,' Lagarde said in an introductory speech at ECB's forum on central banking.
'They are therefore likely to remain the main tools for adjusting our monetary policy,' she added.
Copyright RTT News/dpa-AFX