European stocks close lower on investor concerns about Ômicron

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European shares retreated more than 1% on Thursday (2), with countries tightening restrictions to curb the spread of the Ômicron variant of the coronavirus, raising concerns about its impact on economic recovery.

The pan-European STOXX 600 index fell 1.2%, returning more than half of the previous day’s gains, as the rally in sectors exposed to the pandemic led to the index’s best session in nearly six months.

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Germany agreed on Thursday to new restrictions against Covid-19 that targets those who are not vaccinated, and the United States tightened travel restrictions. At the same time, US Treasury Secretary Janet Yellen said the Ômicron variant showed that the pandemic could go on “for some time.”

Travel and leisure stocks, which suffer most from the restrictions movements, fell 2.6%, taking losses this year to 7%, in a much lower performance than other large sectors, which are heading towards gains of two digits.

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Europe’s benchmark stock index has been fluctuating sharply in recent days due to uncertainties about the new variant and the effectiveness of current vaccines in combating it.

See how the European markets turned out this Thursday (2):

  • In London, the Financial Times index retreated 0.55%, to 7,129 points;
  • In Frankfurt, the DAX index fell 1.35% to 15,263 points;
  • In Paris, the CAC-40 index lost 1.25%, to 6,795 points;
  • In Milan, the Ftse/Mib index had a devaluation of 1.39%, to 26,005 points;
  • In Madrid, the Ibex-35 index dropped by 1.80%, to 8,300 points;
  • In Lisbon, the PSI20 index devalued by 0.92%, to 5,423 points.

Reference: CNN Brasil

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