The Stoxx 600 closed near its all-time high in November, following Monday’s Wall Street rally, with investors still relatively restrained by the different levels of response to the Omicron mutation. of coronavirus by governments across the European continent.
THE Stoxx Europe 600 It closed with a rise of 1.13%, to 488.50 points, with extremely low but trading volumes, while the stock market in the United Kingdom remained closed due to a festive holiday. The other pan-European index, EuroStoxx 50, gained 0.56%, to 4,311.93 points.
The German DAX recorded an increase of 0.81%, to 15,963.70 points, with the French CAC 40 to increase by 0.57%, to 7,181.11 points.
On the periphery, the Italian FTSE MIB moved up 0.78% to 27,444.93 points, while the Spanish IBEX 35 gained 0.77%, to 8,688.90 points.
On Monday, the overall S&P 500 in the US set a record high, boosted by the high levels of retail sales in the country during the holiday season, with consumers defying the Omicron mutation.
European stocks are likely to follow US stocks in the coming weeks, Esty Dwek, chief investment officer at Flowbank, told Reuters.
“Businesses have shown impressive levels of resilience to restrictive measures and, although additional restraints are highly likely in the short term, they do not seem likely to affect growth in Europe by 2022, when the wave of pandemic recovery is expected to continue.”
Covid-19 cases worldwide hit a record high on Monday. In the latest developments in dealing with the pandemic, France is forcing its citizens to work from home for most of next month in order to control the highly contagious Omicron mutation.
Elsewhere in the world, Covid-19 continues to spread in the western Chinese city of Xi’an, days after its 13 million inhabitants entered a lockdown. On the other hand, the UK government will not introduce new, stricter measures in England for the period until New Year 2022.
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