European stocks end in decline on fears over Ômicron variant

European stocks retreated on Friday (3), reaching session lows after losses in US securities with the retreat of technology and fears around the Ômicron variant of the coronavirus.

The FTSEurofirst 300 index fell 0.55% to 1,793 points, while the pan-European STOXX 600 index lost 0.57% to 463 points, after fluctuating between gains and losses throughout the week amid concerns about potential impact of the newly detected variant of Covid-19, in addition to the favorable shift in reducing Federal Reserve stimuli.

Job creation in the US disappointed, data showed this Friday, but this has fueled bets the Fed may consider anticipating interest rate hikes.

Wall Street backed this session, with losses in the stocks of tech giants.

“The coming weeks will remain volatile, as the focus is on the latest (US) inflation report, the December 15th meeting of the FOMC (Fed Committee that decides monetary policy) and more information on the impact of the Ômicron variant” , said Edward Moya, senior market analyst at Oanda.

The basic resources sector led losses in Europe on Friday, down 2.5% as copper and iron ore prices retreated, while technology papers followed the decline of their US counterparts.

The day’s moves left the STOXX 600 down 0.3% for the week.

• In London, the Financial Times index retreated 0.10%, to 7,122.32 points;
• In Frankfurt, the DAX index fell 0.61% to 15,169.98 points;
• In Paris, the CAC-40 index lost 0.44%, to 6,765.52 points;
• In Milan, the Ftse/Mib index had a devaluation of 0.26%, to 25,938.52 points;
• In Madrid, the Ibex-35 index dropped by 0.71%, to 8,241.70 points;
• In Lisbon, the PSI20 index devalued 0.12%, to 5,417.41 points.