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Shift to value stocks on vaccine news may be short lived

Pfizer's progress in the fight against Covid-19 is great news but investors should reserve some caution
Shift to value stocks on vaccine news may be short lived
  • Rally in value stocks partly due to covering short positions
  • Central bank money printing has long term implications for currencies
  • Companies this week include: Games Workshop, Oxford Instruments and JD Wetherspoon

It has been an eventful week. The outcome of the US election is known but its implications for investors and stock markets has been swept aside by the announcement on Monday that Pfizer has a Covid-19 vaccine that is 90 per cent effective.

The stock market liked this news but it was much better for some shares than others. Tech stocks and those that were seen to benefit from a stay at home economy sold off whilst shares in sectors that have been battered went through the roof.

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