Global stocks, Euro, oil get shot in the arm on hopes of Covid-19 vaccine

World shares climbed towards a four-month high on Wednesday with the euro and oil in tow, as hopes for a coronavirus vaccine offset rising tensions between the United States and China.

Asia had a choppy session after more barbs between Beijing and Washington over Hong Kong, but near 1% gains for London, Frankfurt, Paris and Milan early on and a rise in Wall Street futures blew away any caution.

An experimental vaccine for Covid-19 produced by the US company Moderna provoked safe immune responses in all 45 healthy volunteers, an early-stage study showed on Tuesday.

Uncertainty remained over how quickly an effective and