S&P 500 gives up gain on report Pfizer facing vaccine supply chain issues; European markets close mixed amid Brexit uncertainty; BELEX15 up 0.48%
U.S. stocks cut gains in the final hour of trading on Thursday after Dow Jones reported Pfizer is cutting its coronavirus vaccine rollout plan for this year due to supply chain issues. The Dow Jones Industrial Average last traded up 50 points after gaining more than 200 points at its session high. The S&P 500 turned negative after hitting a new intraday high earlier in the day. The tech-heavy Nasdaq Composite rose 0.2%.
Pfizer now expects to ship half of the doses it had previously planned this year after finding raw materials in early production that didn’t meet its standard, Dow Jones reported. First-time claims for unemployment insurance totaled 712,000 last week, lower than an estimate of 780,000 from economists surveyed by Dow Jones. Jobless claims also reached a pandemic-era low as the labor market showed resilience even in the face of a worsening pandemic.
Elsewhere, the House of Representatives unanimously passed a bill that would require Chinese companies to adhere to U.S. auditing standards if they want their stocks to be listed on exchanges in the United States. The bill now goes to President Donald Trump, who is expected to sign it into law.
European stocks closed mixed on Thursday as Brexit uncertainty weighed on investor sentiment. The pan-European Stoxx 600 closed marginally above the flatline, with the travel and leisure stocks surging 3.5%, while chemicals shares declined 1.1%. Britain’s FTSE 100 index outperformed its major European counterparts, climbing 0.4%.
In terms of individual share price movement in Europe, Rolls-Royce added more than 15% to lead the Stoxx 600 after Bloomberg reported that the company sees a chance to return to the narrow-body jet market.
BELEX15 added 0.48%, led by 2.2% advance at Belgrade Airport and 0.86% increase at Jedinstvo Sevojno. The most active name was NIS, as it generated RSD 3.2m in volume. Komercijana delivered RSD 2.9 in stock turnover, with 0.23% price increase.
Source: CNBC, Ilirika