MARKET WRAP: JSE firms on vaccine hopes
Investor focus is now on the US Fed chair and treasury secretary as they appear before the US senate banking committee
19 May 2020 - 18:24
The JSE closed higher for a third session running on Tuesday with most of its major indices gaining as investors started pricing in a faster-than-expected economic recovery amid optimism about a potential coronavirus vaccine.
US biotechnology company Moderna has reported that a phase-one trial of its coronavirus vaccine has shown promising results, with signs that it can create an immune-system response. Many experts, however, believe that a safe and effective vaccine is still likely to take between 12 and 18 months to deliver for global usage...
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