*PFIZER VACCINE PREVENTS 90% OF COVID INFECTIONS IN LARGE STUDY Now that’s a headline to shake off the Monday blues! After what has been a tough few weeks (even months!) wadding through the election quagmire, with little to no good news around a vaccine, today feels like a great unshackling for the market and investors alike. The SX5E is having its second best day in five years, with Value outstripping Growth by almost 450bps. There is a decent rotation out of the WFH winners and into the WFH losers, with the likes of HFG -12.8%, DIA -16% and OCDO -15%, all suffering as investors take profit. After markets earlier in the session were already trading better thanks to better clarity around the US election, this Pfizer news is what investors all over the world have been waiting for. It is a truly momentous day, and while we are not over the finish line yet, it does feel like the tide is beginning to turn on what has been a pretty brutal year.
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