KEY POINTS
  • Pfizer's news on Monday that the vaccine it is developing with BioNTech was more than 90% effective in a trial has helped to buoy sentiment this week.
  • However, mid-week traders worried that a rising number of coronavirus cases could hit the economy significantly before a vaccine arrives.

LONDON — European stocks closed slightly higher Friday as investors struck a positive tone on the prospect of an effective coronavirus vaccine.

The pan-European Stoxx 600 closed fairly flat after initial losses, with sectors and major bourses mostly finishing in positive territory. For the week, the index closed up by around 3.5%.