MARKET WRAP: JSE gains as EU stimulus leads to risk-on moves

The JSE had its third day of gains on Tuesday as progress in creating a Covid-19 vaccine and the EU’s stimulus deal boosted appetite for riskier assets.

Markets rallied following reports that an experimental vaccine trial by Oxford University and British-Swedish pharmaceutical group AstraZeneca induced an immune response. Data showed that a vaccine trial by German BioNTech and US pharmaceutical firm Pfizer also showed positive results and that it is safe for humans.