Following a rout in technology stocks on Wall Street that subdued global investor sentiments, on Monday, European shares rebounded with investors keeping a close eye on COVID-19 vaccine developments.
Australia is likely to receive its first batches of a potential COVID-19 vaccine in January 2021 after striking a manufacturing deal with CSL, which will make two vaccines – one developed by AstraZeneca and the other by Oxford University.
With the news reaching the market, AstraZeneca’s shares rose by 1.5%.
The European healthcare sector index also rose by 0.9%.
At 0709 GMT, the STOXX 600 index also jumped by 0.8%.
Shares of insurance companies, automakers and banks rose by 1% in early trading.