Wednesday, October 5

European stocks climb to 15-day highs

European stocks hit a two-week high on Thursday. Investor sentiment improved on signs that the impact of the omicron variant of the coronavirus may not be as severe as feared.

The data // The pan-European STOXX 600 Index was up 0.2 percent on early trading, driven by tourism and auto stocks. The selective followed the global rebound in the markets, which was also favored by the solid economic data from the United States.

Context // The risk of having to stay in the hospital for patients with omicron can be 40 percent to 45 percent lower than for patients with the delta variant, according to research from Imperial College London.

  • Another study conducted in South Africa showed that people diagnosed with omicron in the country between October 1 and November 30 were 80% less likely to be hospitalized than those diagnosed with another variant in the same period.
  • Astrazeneca was up 0.3 percent after the drugmaker said a three-dose cycle of its Covid-19 vaccine was effective against omicron.