A major breakthrough has been announced in the search for a coronavirus vaccine, with the jab from Pfizer found to be more than 90 per cent effective.
The pharmaceutical giant and its partner BioNTech said interim results showed their jab could prevent people catching Covid-19.
The FTSE 100 jumped more than 5.5 per cent on the news, adding £82 billion to the value of its shares in the market’s best day since March.
Downing Street said the UK will have procured 10 million doses by the end of the year to be given out, if it is approved, and hailed the news as “promising”.
Boris Johnson will hold a press conference at 5pm.
It comes as the Government faces mounting pressure to release London from lockdown early as the capital continues to see a drop in coronavirus infections.