Wednesday, January 19

European stocks sign weekly highs

European stocks ended Wednesday at one-week highs, led by rallies in tech and industrial stocks.

Context // Investors were concerned about the prospects for a global recovery against a background of an increase in Covid-19 cases due to the omicron variant.

The data // The pan-European STOXX 600 Index rose 0.8 percent, adding to 1.4 percent in the previous session. It was also his best day in two weeks.

  • Technology stocks led the increases, followed by industrial, travel and construction-related stocks.

Global vision // Global markets have been on edge this month as the rapidly spreading omicron strain of the coronavirus has prompted some countries to reimpose restrictions on everyday life, disrupting travel and hampering economic activity.

“A lot of traders are clinging to all the scientific data on the severity of the new strain,” said Susannah Streeter, investment and markets analyst at Hargreaves Lansdown.

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