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Global markets gained on Monday on the back of US regulatory approval for a blood plasma treatment for Covid-19, as investors hoped for an effective response to the virus.
US President Donald Trump is clearly hoping that his administration can take effective steps against the virus before the November presidential election, and investors also appeared to take heart from the announcement.
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The S&P 500, the main Wall Street benchmark, has pushed to a new record high amid optimism over the prospects for a treatment for Covid-19 using the blood plasma of recovered patients.
The index gained 27.21 points, or 0.8% in opening trades to hit 3,424.37 points.