FTSE 100 jumps on second Covid vaccine hopes

Publishedduration40 minutes agoimage copyrightMODERNA

UK share prices have surged on news of a second breakthrough coronavirus vaccine, following last week's positive results from Pfizer.

Interim data from the US firm Moderna suggests its vaccine is highly effective in preventing people getting ill and works across all age groups.

Shares jumped in firms hit by the pandemic, with British Airways owner IAG up 12% and Cineworld rising 15%.

Wall Street markets open later, but the futures index points to a big jump.

After Moderna released its positive data, the FTSE 100 rose to stand about 1.7% higher at midday in London. The main market in Paris rose 2.5% and in Germany shares rose 1.5%.

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