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 Word that a vaccine being developed by the University of Oxford and
AstraZeneca Plc produced immune responses in both elderly and young
people offered some positive news.
However, British Health Secretary Matt Hancock cautioned that the
vaccine would not be widely available until next year and said
"we're not there yet".
Elsewhere the picture was unrelentingly grim as a string of
countries reported record increases, led by France, which posted
more than 50,000 daily cases for the first time on Sunday, while the
continent passed the threshold of 250,000 deaths.
Governments have been desperate to avoid the lockdowns which curbed
the disease at the start of the year at the cost of shutting down
their entire economies. But the steady rise in new cases has forced
them to ratchet up controls steadily.
"We are facing very, very difficult months ahead," German Chancellor
Angela Merkel told a meeting of leaders from her Christian Democrat
party, according to daily Bild.
Although Germany has fared relatively well compared to other
countries in Europe, it too has seen a sharp rise in cases and the
closely watched Ifo business climate index fell on Monday,
reflecting the worries over the virus.
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The gloom around the resurgent virus weighed on financial markets, where oil
prices dropped on concerns of another slide in demand and stock markets also
fell.
In Spain, which has had more than 1 million cases of the disease, Prime Minister
Pedro Sanchez warned the country was facing an "extreme" situation as he
announced a new state of emergency on Sunday, imposing local nighttime curfews
and banning travel between regions in some cases.
Italy, the country worst hit in the early stages of the crisis in March, also
imposed new curbs, ordering restaurants and bars to close from 6 p.m. and
shutting down cinemas, and gyms and imposing local curfews in several regions.
Street clashes with small groups of protestors over the weekend and angry
criticism from restaurant owners and business groups about the impact of the
measures underlined the increasingly tense climate facing Prime Minister
Giuseppe Conte.
(Reporting by Reuters bureaux; Editing by Angus MacSwan)
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