The 'milestone' vaccine is already having an effect

Business Daily

BBC

News, Business

4.4 • 796 Ratings

🗓️ 10 November 2020

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stock markets have rocketed on hopes of a Covid-19 vaccine breakthrough. The BBC's Business Editor Simon Jack explains who the winners and losers have been on the markets so far, and what this could mean for future stimulus packages and inflation. The drugmakers responsible for the vaccine claim it can prevent more than 90% of people from getting Covid-19. We'll hear from Mikael Dolsten, Global Research Chief for one of the drugmakers Pfizer. And epidemiologist Peter Horby of the University of Oxford expresses guarded optimism for the world opening up again.

Produced by Frey Lindsay.

(Image credit: Getty Images.)

Transcript

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0:00.0	Hello there, I'm Ed Butler and welcome to Business Daily from the BBC.
0:05.7	Today, has Big Farmer come to the rescue?
0:09.5	I've never felt professionally such a moment of joy.
0:13.0	We were just jumping up and down in the shares of joy for humanity, joy for medical advances,
0:19.0	to put an end to this dreadful pandemic.
0:21.9	Yes, the firm Pfizer reckoned they have a vaccine. It could eventually deliver us from
0:27.6	COVID-19, they say. Shares around the world have soared, but politicians warm, don't lower
0:32.9	your guard people. The disease still kills. We absolutely cannot rely on this news as a solution.
0:42.2	And the biggest mistake we could make now
0:44.8	would be to slacken our resolve at a critical moment.
0:49.6	That's all to come on Business Daily from the BBC.
0:55.3	Well, what a day it was in London and Wall Street yesterday.
1:00.7	This news, rocket fuel on Wall Street.
1:04.1	Just an incredible response.
1:06.3	Dow futures are soaring.
1:08.2	And it shows you the optimism here that there could be a post-COVID economy again.
1:12.8	American shares, Delta, United all roughly 13 to 15% higher. Carnival and Norwegian cruise lines
1:18.6	also rallying more than 20%. Yeah, analysts said they could not remember a piece of positive
1:25.7	news, quite having ever such an effect on the markets around the world.
1:30.3	Blue chip shares were spiking 30, even 50% in some cases.
1:35.3	Even politicians were commenting from the US President-elect Joe Biden to the UK's Boris Johnson.
1:40.6	More reaction in a second, but first let's hear from Pfizer itself, the pharmaceutical firm,
	...

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