Spreadex Market Update

European and US markets shake off Omicron uncertainty



The FTSE (+1.49%), DAX (+1.35%) and CAC (+1.64%) are all in the green and have risen steadily throughout the day, thanks to a growing optimism surrounding the impact of the new variant.

There is a consensus that although the new variant may be more transmissible, it does not appear to be as deadly, with no deaths currently attributed to the Omicron strain.

As we have seen before, thanks to this newfound positivity, Ocado is one of the main stocks that takes a tumble, as it is currently down 3.29%. While on the other end of the spectrum, IAG has gained over 6.5%.

Although it has been a very optimistic day for markets, the fact that Asian markets had a weak session today, could come to haunt the rest of the global markets, as Chinese developers Evergrande said it could not guarantee making their repayments.

After the unexpectedly bad nonfarm figures, which caused markets to slump towards the end of last week, like Europe, the US markets have turned it around with the DOW up 1.70% and S&P +0.83%.

Dr. Anthony Fauci, who has been the go-to for Coronavirus updates in the US, further reinforced the belief about this new variant being less potent than previous strains.

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