The coronavirus vaccine being developed by Pfizer and BioNTech has been found to be 90% effective in preventing people from getting the virus.

(Unicef)

Phase 3 of Pfizer's trial involved 43,538 participants from six countries. They received two doses of either the immunisation or a placebo, with 90% protected from the virus within 28 days of having their jabs.

Only 94 people who took part in the trial developed coronavirus and no serious safety concerns were reported, the US pharmaceutical firm said.

"Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine's ability to prevent COVID-19," said Pfizer chairman and chief executive Dr Albert Bourla.

"With today's news, we are a significant step closer to providing people around the world with a much-needed breakthrough to help bring an end to this global health crisis.

The news saw stock markets surge, with the FTSE 100 jumping by 5.5% - adding £82bn to the value of its shares and resulting in its best trading day since March.

Pfizer and BioNTech's vaccine is one of around 12 worldwide in the final stages of testing, but it is the first to produce any results.

(Lupni.com/Sky News)