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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    BREAKING: CBN extends deadline for old naira notes

    Naira redesign: We can’t guarantee your safety in Kano, postpone visit – Ganduje tells Buhari

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    How Osun state governor, Adeleke was sacked by tribunal

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    Adeleke reacts to his removal as Osun state governor

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    JUST IN: Tribunal annuls Adeleke’s election, declares Oyetola Osun gov

    JUST IN: Tribunal annuls Adeleke’s election, declares Oyetola Osun gov

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    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

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    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

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    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

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    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
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    • Cryptocurrencies
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    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

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    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

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    The Local Bourse Records Gains… As Year-to-Date in closed at 2.68%

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    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

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    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

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    Building a Successful Business Organization: Lessons from the Bible

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    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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Oil Prices Soar, Financial Markets rise on news of Pfizer Covid-19 Vaccine

Monday, 9 November 2020, 4:32 pm
in News, World
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Oil Prices Soar, Financial Markets rise on news of Pfizer Covid-19 Vaccine
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The prices of oil has been rising since Pfizer and Biontech announced that their vaccine candidate against Covid-19 achieved success in first interim analysis from phase 3 study.

The price of Brent Crude Oil has risen 9.14% to $43.48 at the time of this report, while that of WTI (West Texas Intermediate) has risen 10.08% to $41.27.

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Just a week ago, as Europe was heading into its second lock-down as the second wave of Covid-19 was taken hold, the prices of these two benchmark oil blends were below $38.00 at one time.

Similar momentum is being seen in European financial markets as well as the US Markets.

On the European Markets; London’s FTSE 100 is currently 5.56% up, CAC 40 in Paris is up by 8.10%, Euro Stoxx 50 is up by 6.98% and the DAX in Germany is up by 5.87%.

On the other side of the Atlantic, the US Markets opened with massive gains; the DOW reached new levels, and is now at 29,527.83 points, up by 4.25% on the day. The S&P 500 is up by 3.23% while Tech heavy NASDAQ is up by 1.53%.

In a press release on its website, Pfizer stated that its candidate vaccine was found to be more than 90% effective in preventing Covid-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis.

The highlights of the press release;

  • Vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis
  • Analysis evaluated 94 confirmed cases of COVID-19 in trial participants
  • Study enrolled 43,538 participants, with 42% having diverse backgrounds, and no serious safety concerns have been observed; Safety and additional efficacy data continue to be collected
  • Submission for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) planned for soon after the required safety milestone is achieved, which is currently expected to occur in the third week of November
  • Clinical trial to continue through to final analysis at 164 confirmed cases in order to collect further data and characterize the vaccine candidate’s performance against other study endpoints

EW YORK & MAINZ, GERMANY–(BUSINESS WIRE)– Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced their mRNA-based vaccine candidate, BNT162b2, against SARS-CoV-2 has demonstrated evidence of efficacy against COVID-19 in participants without prior evidence of SARS-CoV-2 infection, based on the first interim efficacy analysis conducted on November 8, 2020 by an external, independent Data Monitoring Committee (DMC) from the Phase 3 clinical study.

The Phase 3 clinical trial of BNT162b2 began on July 27 and has enrolled 43,538 participants to date, 38,955 of whom have received a second dose of the vaccine candidate as of November 8, 2020. Approximately 42% of global participants and 30% of U.S. participants have racially and ethnically diverse backgrounds.

The trial is continuing to enroll and is expected to continue through the final analysis when a total of 164 confirmed COVID-19 cases have accrued. The study also will evaluate the potential for the vaccine candidate to provide protection against COVID-19 in those who have had prior exposure to SARS-CoV-2, as well as vaccine prevention against severe COVID-19 disease.

In addition to the primary efficacy endpoints evaluating confirmed COVID-19 cases accruing from 7 days after the second dose, the final analysis now will include, with the approval of the FDA, new secondary endpoints evaluating efficacy based on cases accruing 14 days after the second dose as well.

The companies believe that the addition of these secondary endpoints will help align data across all COVID-19 vaccine studies and allow for cross-trial learnings and comparisons between these novel vaccine platforms. The companies have posted an updated version of the study protocol at https://www.pfizer.com/science/coronavirus.

Based on current projections we expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021 – Pfizer Inc.

Pfizer and BioNTech plan to submit data from the full Phase 3 trial for scientific peer-review publication.

The shares of Pfizer is up by 6.43% on the New York Stock Exchange at the time of this report, while the shares of BionTech SE is up by 10.10%.

By; Nnamdi M.

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