Equities, oil prices rocket on Pfizer’s coronavirus vaccine hope

European stock markets and oil prices rocketed Monday on coronavirus vaccine hopes following successful trials.

Already up strongly on Joe Biden’s US election win, markets massively accelerated gains after Pfizer and its German partner BioNTech said their vaccine was 90 percent effective in preventing Covid-19 infections.

London’s benchmark FTSE 100 stocks index surged 4.8 percent in midday deals.

In the eurozone, Frankfurt jumped 5.2 percent and Paris soared 6.6 percent.

Dow Jones futures were up 5.4 percent ahead of the Wall Street open.

Share prices of airlines led the way, with British Airways parent IAG up more than 25 percent.

Air France-KLM and Lufthansa made similar jumps — as the news came as a huge relief to a sector battered by virus travel restrictions.