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US, European stocks rise on coronavirus vaccine progress but ASX falls – ABC News
Promising coronavirus vaccine trials in both the US and UK pushed overseas markets higher overnight amid optimism an end to the coronavirus pandemic is within sight, but the ASX falls.
The Australian share market has closed in the red after initially opening higher, with healthcare and utilities stocks dragging.
Key points:
- The ASX 200 has retreated from early gains, while the Australian dollar is lower after the unemployment rate rose
- Companies associated with promising COVID-19 vaccine trials Moderna and AstraZeneca saw their shares up 6.9 and 5.5 per cent respectively overnight
- The promising trials boosted travel stocks and saw US shares rise by al…
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