Monday, January 24

European stocks fall with one eye on omicron

European stocks fell on Monday, on a festive day in which risk sentiment was affected by the omicron variant of Covid-19. Infections continued to rise around the world.

The important fact // The pan-European STOXX 600 Index was down 0.2 percent in early trading, following a mixed session for Asian stocks.

  • Banks and tech companies were among the biggest declines in the regional benchmark, while oil stocks followed the decline in crude prices.
  • Defensive sectors, such as healthcare and real estate, led the gains.
  • The markets of the United Kingdom, Australia and Hong Kong were closed for a holiday, while Wall Street will resume operations later, after the break on Friday.

Context // Airlines around the world canceled more than 4,500 flights over the Christmas weekend due to uncertainty surrounding the omicron variant, while China posted its biggest daily rise in local infections in 21 months at the weekend.

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