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Vaccine hopes a shot in the arm for markets

Market futures are mixed after a positive day on equities markets yesterday, spurred by hopes of a vaccine for COVID-19.
Vaccine hopes a shot in the arm for markets Vaccine hopes a shot in the arm for markets Vaccine hopes a shot in the arm for markets Vaccine hopes a shot in the arm for markets Vaccine hopes a shot in the arm for markets

Anglo American was among the top market risers in London

Staff reporter

China's president Xi Jinping told the World Health Organisation the country would make any vaccine universally available, Bloomberg reported, while early results from a US biotechnology company's experimental vaccine showed promise.

The S&P 500 closed up 3.15%, the FTSE 100 gained 4.29% and Australasian markets closed higher.

Canadian markets were closed for a public holiday.

Base metals were up across the board on the London Metal Exchange and the spot gold price has softened from above US$1,760 an ounce to $1,738/oz earlier.

Among the mining majors, diversified Anglo American (LSE: AAL) surged 11.6% yesterday but remains at the lower end of its one-year range.

Gold major Newmont (NYSE: NEM) touched a one-year high intraday of US$68.77 but closed down 2.4%.

Finally in morning Australian trade, BHP (ASX: BHP) was up 4.4% at the time of writing.