European Stocks Soar on Vaccine News and Biden Win

European stocks surged on Monday, supported by news about Pfizer and BioNTech successfully developing a vaccine against the Coronavirus disease (COVID-19), as well as the United States presidential election results.

The pan-European STOXX 600 index is up by 3.9%, after rising earlier by more than 4%, achieving its best daily gains in six months and rising to its best level in about eight months.

The UK’s FTSE100 is up by 4.75%, while France’s CAC40 surged by 7.2% and Germany’s DAX added 4.82%.