Astrazeneca’s shares (LON: AZN) jumped at the news that a vaccine developed with Oxford University has been approved for use.
Astrazeneca stock rose 4% on Tuesday at 7,507.97, and is currently up almost 1% at 7,526.84 (1024GMT).
The first dose of the vaccine will be administered immediately on Monday 4th. The UK has ordered 100 million doses.
The news is expected to record 53,135 new covid cases in the UK this week, with more people expected to be placed under tier 4 restrictions.
“The vaccine is the way out of it,” Matt Hancock told the BBC. “We used to hope to get out of here by spring, but now we’re more confident that we’ll be out of here by spring.”
The Ministry of Health’s Social Care spokesperson said: “The idea is to give many people in the at-risk group the first dose rather than providing the two doses they need in the shortest possible time.
“Everyone still receives their second dose, which will be within 12 weeks of the first. The second dose will complete the course and is important for long-term protection.”
Analysts at AJ Bell commented on what the vaccine rollout means for the market, saying, “The news of mass inoculations in the UK and other countries will lead to continued fiscal finances for the economy from governments, central banks and markets. and financial support. Currently, we are leaning towards this scenario, and it appears that some investors are openly debating the revival of inflation.”
