The main index of the Spanish stock market, the IBEX 35, closed with gains on Tuesday after two days in the red. Investors remain hopeful that omicron will cause less economic damage than expected.
Context: With an eye on the increase in cases of the variant and the new restrictions in several European countries, investors remain cautiously optimistic as, although the data of the strain point to its greater transmissibility, they also point to a lower severity of the symptoms thanks to vaccines.
- “It’s about trying to assess to what extent the omicron story is going to cause uncertainty,” said Olivier Marciot, portfolio manager at Unigestion.
- “Although it is going to have an impact on real life and the real economy for a few weeks, the markets hope that it will not cause what everyone fears, which is a global slowdown,” he added.
Global vision: US health authorities are considering the option of reducing the recommended 10-day quarantine period for those who test positive for Covid-19 due, in part, to the fact that omicron seems to cause milder symptoms in people on the full schedule or on vaccines of reinforcement.
IBEX 35 (IB)IBEX 35 (IB)