(Reuters) – European stocks are recovering on Monday after weakening market sentiment due to a decline in the Wall Street tech sector last week, as investors closely monitor the development of a COVID-19 vaccine.
Australia expects to receive the first shipments of a potential COVID-19 vaccine in January, Prime Minister Scott Morrison said Monday.
Morrison said the country's government has struck a deal with CSL to produce two vaccines – one developed by AstraZeneca (LON: AZN) and the University of Oxford, and the other developed in CSL's own laboratories in conjunction with the University of Queensland.
AstraZeneca shares were up 1.3%. The health sector added 0.9%.
The pan-European STOXX 600 Index is up 0.78% at 10:29 GMT, while the German DAX Index is up 0.95%.
Insurance companies, banks and automakers gained more than 1% in early trading.
(Shreyashi Sanyal in Bangalore. Translated by Olga Vishnevskaya. Editor Anna Kozlova)