European markets are positive despite fears of omicron Covid variant

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LONDON – European stocks are expected to start the new trading week much higher, despite many concerns over the newly discovered omicron Covid variant.

The British FTSE index would open 97 points higher at 7,137, the German DAX by 191 points at 15,437, the French CAC 40 by 99 points at 6,824 and the Italian FTSE MIB by 324 points at 26,167, according to the data. ‘IG.

European markets are expected to soar despite pressing concerns over the omicron variant which the World Health Organization called a “worrying variant” last Friday.

As scientists continue to research the variant, the large number of mutations in omicron has sounded the alarm bells. According to the WHO, preliminary evidence suggests that the strain has an increased risk of reinfection.

The variant has been found in the UK, Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong, but not yet in the United States Many countries, including the United States, have decided to restrict travel from southern Africa.

Vaccine makers have announced steps to investigate omicron with tests already underway. While it remains to be seen how omicron responds to current vaccines or whether new formulations are needed, Moderna chief medical officer Paul Burton said on Sunday that the vaccine maker could roll out a reformulated vaccine against the omicron variant early on. next year.

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