A currency trader passes by screens showing Korea Composite Stock Price Index (KOSPI), left, and foreign exchange rate at the…
A currency trader passes by screens showing Korea Composite Stock Price Index (KOSPI), left, and foreign exchange rate at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, July 2, 2020.

Global markets are on the rise Thursday on news of a potential effective vaccine for the novel coronavirus.  

European markets are continuing to make gains in mid-morning trading — the FTSE in London is up 0.8%, Paris’s CAC-40 index is up 1.4%, and the DAX index in Frankfurt is 1.6% higher.     

Asian markets posted a clean sweep of gains to begin the trading day.  Japan’s benchmark Nikkei index finished 0.1% higher, while the Hang Seng in Hong Kong earned 2.7% and the Shanghai Composite closed 2.1% higher.   

Australia’s S&P/ASX index was 1.6% higher, the KOSPI index in South Korea closed up 1.3%, and Taiwan’s TSEC index rose 0.8%.  The Sensex in Mumbai is up 1.2% in late afternoon trading.     

Investors were optimistic after U.S. pharmaceutical giant Pfizer and Germany’s BioNtech said preliminary data from early-stage human trials of a new vaccine showed promise.      

Oil markets are also trading well Thursday.  U.S. crude is selling at $40.05 per barrel, up 0.5%, while Brent crude, the global benchmark, is selling at $42.29 per barrel, up 0.6%.     

All three U.S. indexes are trending positively in futures trading ahead of Thursday’s announcement of the latest U.S. unemployment figures.