Covid-hit Irish firms ride Pfizer vaccine news to gain €2.5bn

A vaccine jointly developed by Pfizer and BioNTech has been shown to be 90% effective in preventing Covid-19 infections in ongoing Phase 3 trials. Global shares have soared as a result. File Picture

Covid-19-hit Irish companies put on over €2.5bn in market value, riding a €420bn global stocks buying spree, after Pfizer and BioNTech said they had a very promising result in an advanced trial for their potential vaccine. 

Shares in Ryanair, AIB, and Bank of Ireland, as well as Dalata Hotel and Irish Ferries-owner ICG, soared within minutes of the announcement that the vaccine trial showed a success rate of over 90% in providing immunity from the disease.