Rebound in the European markets with gains of 1% for the Stoxx 600

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Most European stock markets are moving higher on Tuesday, recovering part of the heavy losses recorded in yesterday’s session, with the Stoxx 600 falling to a two-week low.

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Concerns about the impact of the Omicron mutation on the economic recovery remain at the forefront, as many European countries take steps to curb rallies as they see coronavirus outbreaks soar.

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Omicron launch of new coronavirus pushes German government to impose new restrictions, a “light lockdown”, as Südwest Presse writes. The measures are expected to be specified during Chancellor Olaf Soltz’s meeting later today with the state prime ministers. At the same time, the Robert Koch Institute sounded the alarm, raising the risk level for the population to “very high” – especially for the unvaccinated.

After a lengthy cabinet meeting on Monday, British Prime Minister Boris Johnson decided not to impose stricter social restrictions at Christmas, but did not rule out taking action in the near future.

Moderna has announced that the booster dose of the coronavirus vaccine has been shown to be effective against the Omicron mutation in laboratory tests. At the same time, in an interview with a Swiss newspaper, the CEO of Moderna estimated that the company will not face problems in development of a booster dose of the vaccine against coronavirus that will specifically protect against the Omicron mutation and could begin work in a matter of weeks.

Meanwhile, The European Union has approved the use of the Novavax vaccine in people aged 18 and over, the fifth vaccine available for use in the European bloc.

At the same time, central bank officials continue to assess the prospects for inflation. European Central Bank Vice President Luis de Guindos acknowledged on Monday that the rise in inflation in the Eurozone will not be as temporary as the ECB initially expected.

In this climate, the pan-European index Stoxx 600 adds 1%, with the core resource industry leading the way with a rise of 2.3%.

In the individual dashboard, the German DAX strengthened by 0.97% to 15,385 points, the French CAC 40 adds 1.06% to 6,940 points and the British FTSE 100 gains 0.96% to 7,270 points.

In the periphery, the Italian FTSE MIB notes an increase of 0.86% to 26,400 points and the Spanish IBEX 35 climbs 0.75% to 8,300 points.

Today stock markets are also moving upwards in the Asia-Pacific region, with the Nikkei 225 in Japan leading the profits, while the semiconductor industry is strengthening.

It is noted that Wall Street ended with heavy losses but far from the low of the day on Monday, with the industrial Dow Jones falling 433 points, while intra-session was found to lose more than 600 points.


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