ASX 200 closes at highest level in three weeks on COVID-19 vaccine hope

S&P/ASX 200 (INDEXASX:XJO) closed 1.7% higher at 6032.7, its best close in three weeks, as the local bourse rode a wave of optimism from Wall Street.

Buying has been rather widespread with tech stocks adding 3.7%, the property sector rising 3% and the financials gaining 1.9%.

The four big banks were amongst the largest individual contributors to the market with ANZ Bank (ASX:ANZ) rising 2%.

COVID-19 update

Investor sentiments got a boost from news that a vaccine candidate being developed by Pfizer and BioNTech shows potential.

An early-stage human trial of the potential COVID-19 vaccine showed the drug created neutralising antibodies. The results, which were posted online, are yet to be reviewed by a medical journal.

Top gainers

Todays top gainers on the ASX include Peel Mining Ltd (ASX:PEX) (+11.43%), Australian Mines Limited (ASX:AUZ) (+12.50%), Cellmid Limited (ASX:CDY) (+20.00%) and Highfield Resources Ltd (ASX:HFR) (+15.12%).

Proactive news headlines:

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