MARKET OPEN: Covid drug trial sets upbeat tone for local trading

Mon, 13 Jul 2020

New Zealand’s stock market may be in for a positive start to the week after Wall Street closed stronger on Friday on optimism over a late-stage trial of the Remdesivir drug in treating covid-19. Investor optimism over the economic recovery from the covid-19 pandemic was stoked by drug company Gilead’s news that its antiviral remdesivir product significantly aided the recovery of severely ill patients. Australia’s Therapeutics Goods Administration gave provisional approval for remdesivir to be used in adults with severe covid symptoms. “Gi...

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