European markets muted as investors monitor omicron risk
LONDON — European markets inched cautiously higher on Wednesday as investors continue to monitor the threat posed by the omicron Covid-19 variant
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE | VOLUME |
|---|---|---|---|---|---|---|
| .FTSE | FTSE 100 | *FTSE | 7299.13 | 1.72 | 0.02 | 193681905 |
| .GDAXI | DAX | *DAX | 15445.09 | -2.35 | -0.02 | 18650888 |
| .FCHI | CAC 40 Index | CAC | 6965.77 | 0.78 | 0.01 | 21533332 |
The pan-European Stoxx 600 edged 0.2% above the flatline by late morning, with travel and leisure stocks climbing 0.7% to lead gains while utilities slipped 0.9%
Markets in Asia-Pacific were mostly higher on Wednesday while U.S. stock futures were muted in early premarket trade following the Dow’s 500-point rebound on Tuesday
Global markets have endured a volatile week thus far, and European shares rebounded 1.4% on Tuesday to retrace much of the loss accrued during a sharp sell-off in the previous session
Investors are juggling the rapid spread of the omicron variant, and the introduction of containment measures by governments around the world, with new scientific analysis of its severity and pharmaceutical developments on booster shots and treatments
AstraZeneca on Tuesday became the latest company to announce that it had begun work, alongside Oxford University, on an omicron-specific vaccine. Moderna has announced that a third dose of its mRNA vaccine appears to provide significant protection against the variant
German Chancellor Olaf Scholz said Tuesday that new social restrictions will be introduced before New Year’s Eve, including limiting private gatherings among vaccinated people to a maximum of 10
Britain on Tuesday pledged £1 billion ($1.3 billion) to businesses hit by the new Covid-19 variant, with the country’s hospitality sector and others once again under strain
On the data front, U.K. GDP grew 1.1% in the third quarter, final readings confirmed Wednesday, slightly below the 1.3% expected by economists in a Reuters poll
Other data due Wednesday includes French November producer prices and British third-quarter business investment figures
Food delivery companies enjoyed a strong start to trading in Europe on Wednesday. Delivery Hero shares added 6.8% after announcing that it would scale back its German operations and sell off its Japanese unit in the first quarter of 2022
Meanwhile Just Eat Takeaway climbed 5.4% after signing a delivery tie-up with Tesco-owned convenience store chain One Stop
At the bottom of the Stoxx 600, Sweden’s Lundin Energy fell 5.7% after agreeing the $14 billion sale of its oil and gas business to Norway’s Aker BP
