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Stock market: Luxury stocks resist despite the appearance of a new variant of the Covid-19

Stock market: Luxury stocks resist despite the appearance of a new variant of the Covid-19

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While the new strain of Covid-19 discovered in the United Kingdom would be 70% more contagious than the original version of the virus, it should not call into question the effectiveness of the vaccines developed so far. As a result, luxury goods stocks on the stock market seem to have held up well, both in France and internationally.

 

On Monday, December 22, the European Medicines Agency validated the commercialization of the vaccine developed by Pfizer and BioNTech, saying there was “no evidence” that the vaccine would not also protect against the new variant of Covid-19. In the market, operators remain extremely attentive to information about the evolution of the virus. “This is the kind of volatility that can be expected as long as the effect of the vaccines is not widespread,” said Neil Wilson, senior analyst for Markets.com.

 

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But these traders seem to be focused on the worrying news. “Despite the agreement between Republicans and Democrats in the U.S. Senate paving the way for the adoption of a $900 billion stimulus package […] it is obviously the violent mutation of the coronavirus that is worrying,” emphasized Mirabaud‘s investment director, John Plassard, in his morning note.

 

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Featured photo: © Paris Stock Exchange

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