With the global COVID-19 count topping 40 million, amid the latest surge in the European coronavirus cases, Spanish pharmaceutical company PharmaMar came out with a piece of welcome news, citing that its cancer drug - Aplidin is enormously promising in treating COVID-19.
This comes after the Spanish pharma giant said Friday, a clinical trial of its cancer drug Aplidin to treat adult patients with COVID-19 was successful and it now aims to start phase III trials.
The statement read: "With these data, the company will begin, in the next few days, conversations with the regulatory agencies to define the next phase III pivotal study for plitidepsin (Aplidin) in patients with COVID-19, who require hospitalization."
Note that the drug is approved in Australia for the treatment of multiple myeloma.
S&P 500 futures rebound to 3,500
Amid encouraging vaccine news and upbeat European earnings reports, the sentiment remains lifted and helps boost the recovery in the S&P 500 futures.
The futures tied to the S&P 500 index rallies 0.88% to trade at 3,493, recovering from Friday’s low of 3,461.25.
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EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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