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European stocks may open higher

Despite growing concerns about new things coronavirus Variant, Omicron and European stocks may open high on Monday. This is because traders are more likely to participate in bargain hunting after a terrible fall in the previous session.

However, it may be limited due to virus concerns market‘Upside down. The World Health Organization, which held an emergency meeting on Friday, declared that new viral variants were a concern, keeping in mind its infectivity.

The new variant is at risk by scientists for a surprising number of spike mutations that could make the virus more resistant to the vaccine.

Moderna’s chief medical officer, Meannbile, said on Sunday that vaccine makers could roll out re-prescription vaccines against the Omicron variant early next year.

The recovery of oil from the recent heavy losses can cause strong buys in the energy sector. Travel-related stocks may see an unstable ride quality. The sector may feel a bit tough, with some purchases expected after the sharp drop in the last session, but with the potential for tighter restrictions on travel.

Investors will react to a large number of economic data, including reports on German consumer prices.

A foreign trade and economic confidence report from Turkey will be submitted at 2:00 AM EST. Spain’s INE announces November flash consumer prices at 3:00 AM Eastern Standard Time. Hungary unemployment data is also scheduled for 3:00 AM Eastern Standard Time.

Statistics Sweden will publish quarterly national accounts and foreign trade data revised at 3:30 EST. Producer price figures at 4am (Eastern Standard Time) are from Italy.

The Bank of England will release mortgage approval data at 4:30 EST in October.

The results of the Eurozone Economic Confidence Survey will be announced at 5 am Eastern Standard Time. The Economic Situation Index is projected to drop from 118.6 a month ago to 117.5 in November.

At 8:00 am Eastern Standard Time, Destatis will issue a German flash consumer price index in November. Economists expect inflation to rise from 4.5% in October to 5%.

European stocks plunged on Friday after reports of detection of a new, perhaps vaccine-resistant coronavirus variant in South Africa were sold out significantly.

On Friday, the Pan European Stocks 600 fell 3.67%. The UK’s FTSE 100 plunged 3.64%, Germany’s DAX fell 4.15%, France’s CAC 40 fell 4.75%, while Switzerland’s SMI fell 2.01%.

On Wall Street, all of Friday’s major averages have fallen sharply. The Dow fell 905.04 points (2.5%) to 34,899.34, the Nasdaq fell 353.57 points (2.2%) to 15,491.66, and the S & P 500 fell 106.84 points (2.3%) to 4,594.63.

Asian stocks fell on Monday, tracking negative clues from Wall Street, where stocks plummeted as a global concern on Friday. Economy The resurgence of coronavirus cases in Europe and the detection of new, perhaps vaccine-resistant viral variants in South Africa have hit global risk sentiment. Countries are also beginning to close their borders to flights from African countries.

Contact for comments and feedback: editorial@rttnews.com

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European stocks may open higher

Source link European stocks may open higher

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