LONDON: European stock markets and oil prices rocketed Monday on coronavirus vaccine hopes following successful trials.
Already up strongly on Joe Biden's US election win, markets massively accelerated gains after Pfizer and BioNTech said their vaccine was 90 percent effective in preventing Covid-19 infections.
London's benchmark FTSE 100 surged 5.5 percent in midday deals.
In the eurozone, Frankfurt jumped 6.0 percent, Paris soared 7.1 percent, Milan won 6.2 percent and Madrid 9.4 percent.
Dow Jones futures were up 5.4 percent ahead of the Wall Street open.
"Stock markets surged on some extremely positive news from Pfizer and Biontech," said Neil Wilson, chief market analyst at Markets.com.
"The Dow is now seen up 1,300 points (at the official open). Coming on top of the wave of relief from Joe Biden's victory, it's proving a spicy cocktail for stocks."
New York crude advanced 8.5 percent and Brent North Sea oil was up 7.8 percent.
The dollar was steady versus the euro and pound -- and up more than one percent against the yen.
World may be tired, but coronavirus 'not tired of us': WHO chief
The news came on a day when the World Health Organization's chief called on everyone to keep fighting Covid-19, warning that while we may be sick of battling the pandemic, the virus is "not tired of us".
Speaking to WHO's main annual assembly, which resumed Monday after being cut short in May, Tedros Adhanom Ghebreyesus also hailed the election of Joe Biden as the next US president, voicing hope it could signal tighter global cooperation to end the pandemic.
It was vital, he said, for people to follow the science and resist the urge to turn a blind eye to the virus.
"We might be tired of COVID-19. But it is not tired of us," he said.
Trump hails 'great news' on Pfizer coronavirus vaccine
US President Donald Trump hailed the "great news" that the vaccine jointly developed by Pfizer and BioNTech was 90 percent effective in preventing Covid-19 infections.
"STOCK MARKET UP BIG, VACCINE COMING SOON. REPORT 90% EFFECTIVE. SUCH GREAT NEWS!" the President tweeted minutes after Pfizer announced the development and days after he lost the US presidential election to Democrat Joe Biden.
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His defeat was blamed, in part, on his administration's response to the coronavirus pandemic, with infections surging across the US in recent days.