The IBEX 35 opened with slight gains on Tuesday in a session with little movement in European markets and driven by growing confidence regarding the omicron variant.
While several still difficult weeks are anticipated in the face of the pandemic, investors are showing less and less concern about the impact of the new variant in the long term.
In Spain there has been an increase in infections by Covid-19 after Christmas, but the data shows that hospitalizations remain significantly reduced compared to the figures of a year ago.
“A lower risk of hospitalizations with the omicron variant should allow mobility restrictions, if applied, to be more moderate than in the past,” said Renta 4 in a note to its clients.
A study conducted in South Africa was released on Tuesday according to which omicron infection increases neutralizing immunity against the delta variant.
Coupled with the recent drop in cases in South Africa, this type of news helped boost long-term sentiment in global markets.
IBEX 35 (IB)IBEX 35 (IB)
The IBEX 35 European pairs were also up on Tuesday morning. They were pushed up to a maximum of five weeks.
They were encouraged by the fact that Wall Street reached all-time highs overnight, although concern about omicron persisted, with the tightening of restrictions in France and the increase in cases of Covid-19, as well as in Spain, in the United Kingdom .
The pan-European STOXX 600 Index was up 0.3 percent as of 10:22 a.m., after adding 0.6 percent in the previous session to hit a high of more than a month.
Defensive stocks, such as healthcare and industrials, led earnings, with nearly all sectors trading in positive territory.
Context // England will have no new coronavirus restrictions before the end of 2021. The French government said it would tighten its measures, although there will be no curfew for New Year’s Eve.
- The CAC 40 index was up 0.2 percent in early trading.