European shares up as new COVID-19 vaccine lift hopes

European shares were slightly higher on Tuesday after market sentiment was boosted by optimism with a potential COVID-19 vaccine.

A report by the Financial Times stipulated that the U.S. had fast-tracked a potential COVID-19 treatment developed by the University of Oxford and AstraZeneca to be ready before the November elections.

European shares opened higher, with the bullish mood continuing in sessions in New York and Asia.

The STOXX 600 saw record gains, gaining 0.4% for the day on Monday at 0803 GMT, while London’s FTSE 100 rose by 0.3%.

The MSCI world equity index, which tracks shares in 49 countries, was up 0.2%. MSCI’s main European Index was up 0.7%.

However, a spokeswoman for AstraZeneca denied the company had discussed an emergency use authorization for its potential vaccine with the U.S. government.

The director of the Oxford Vaccine Group added on Tuesday that the vaccine could be put before regulators this year.