By Marc Jones
LONDON, Nov 17 (Reuters) – Global equity markets were taking a well-deserved respite on Tuesday after the second major boost from coronavirus vaccines in a week sent them raking up again, leaving Europe on the way. to its best month in nearly three decades.
* The pan-European STOXX 600 Index was down 0.2%, but there was little sign that the bullish streak in November was ending, a month in which sentiment-sensitive commodities and emerging markets also rose.
* The MSCI World Stock Index was hovering around record highs after climbing 11% this month, while the yuan hit a nearly two-and-a-half-year peak in currency markets and the dollar continued to weaken.
* The latest push in the markets was the work of Moderna, who said Monday that its experimental vaccine against COVID-19 was 94.5% effective in preventing infection, according to late-stage interim data.
* MSCI’s broader index of Asia Pacific stocks excluding Japan was up 0.2% a day after hitting its highest since its launch in 1987.
* Japan’s Nikkei 225 gained 0.4% after hitting its 29-year high yesterday, but Chinese leading stocks fell on recent bond defaults that hurt sentiment.
* “The market is assuming that we can see the end of the tunnel, that in 2022 a large part of the world’s population will start to have access to vaccines,” said HSBC’s Herald van der Linde.
* The positive news on vaccines helped crude oil prices continue to extend their 16% gains for the month, with a slight increase in the session.
* In foreign exchange markets, the increase in cases of the virus in the United States clouded the outlook for the dollar, which was down against a basket of six prominent currencies.
GRAPHIC: Emerging Markets http://tmsnrt.rs/2ihRugV
CHART: MSCI Global Stock Index http://tmsnrt.rs/2EmTD6j
Exchange rates in the world http://tmsnrt.rs/2hzquG7
Asset performance in the year http://tmsnrt.rs/2szi3CI
GRAPH-Tracking the pandemic https://tmsnrt.rs/34FwqbC
Moderna’s Vaccine Success Raises Hopes Of Defeating COVID-19
(Additional reporting by Yoruk Bahceli in London and Alun John in Hong Kong; edited in Spanish by Carlos Serrano)