Laith Khalaf: A vaccine could turn markets on their head

A coronavirus vaccine doesn't change everything, but it changes a heck of a lot. We've already seen as much in the market's response to the news that Pfizer has an effective immunisation - yet to be peer reviewed and safety checked, but a hugely encouraging result nonetheless. Stock markets across the globe shot up as investors started to look forward to next year with something resembling hope. But not all share prices reacted to Pfizer's announcement positively. Indeed stock performance in the initial flurry of excitement might hint at a longer term trend if the vaccine is ultimately r...