European stocks seen as Omicron’s concerns ease

European stocks on Monday could open at high prices due to concerns over new stocks coronavirus Variant Omicron Ease.

Early signs of severity of the Omicroncovid-19 mutant are “a little encouraging,” said Anthony Fauci, a top US pandemic adviser, on Sunday, premature to reach a definitive conclusion. Yes, he added, more information is still needed.

South Africa reported that despite the surge in active cases, Omicron did not lead to higher hospitalization rates.

Asian market Hong Kong’s Hang Seng Index fell by more than 1% after China’s struggling real estate giant Evergrande warned of the risk of failing to meet its huge financial obligations and sought help from the state government.

Having paid three 11-hour coupons in the last two months, the company today faces a 30-day grace period ending with a $ 82.5 million payment.

Kaisa Group Holdings also faces potential defaults, but Sunshine 100 China Holdings has missed $ 179 million in debt and interest payments to be paid on Sunday.

Meanwhile, China has “timely” lowered the bank’s reserve requirement ratio (RRR), and state media said on Friday that Prime Minister Li Keqiang said: Economy We are facing multiple risks for next year.

The dollar index was stable as mixed US employment reports barely shook market expectations for more aggressive tightening by the Federal Reserve.

Gold traded flat, but oil prices rose more than 2% after Saudi Arabia, the top exporter, raised prices for crude oil sold to Asia and the United States.

The economic calendar is a busy week ahead, as investors await US reports on consumer prices, trade balances and consumer sentiment as clues to economic recovery.

China’s trade data such as exports, imports and trade balance will be released on Wednesday, and data such as inflation, consumer price index and producer price index will be released the next day.

European Central Bank Governor Christine Lagarde will speak at a meeting on Wednesday, with Eurozone GDP announced the day before.

US stocks fell weak on Friday as bond yields fell at an unprecedented pace since the worst day of the pandemic last year, according to data showing that US employment growth slowed significantly in November.

Non-farm payrolls increased by 210,000 in November, but economists expected employment to increase by 550,000.

However, another report showed that the pace of growth in US service sector activity that month accelerated unexpectedly.

The technology-intensive Nasdaq Composite fell 1.9% to its lowest closing price in more than a month. Meanwhile, the Dow fell 0.2% and the S & P 500 fell 0.8%.

European stocks closed on Friday as US employment data disappointed and the World Health Organization said Omicron variants were detected in 38 countries.

The Pan-European STOXX 600 fell 0.6%. Germany’s DAX fell 0.6%, France’s CAC 40 index fell 0.4%, and the UK’s FTSE 100 fell slightly.

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European stocks seen as Omicron’s concerns ease

Source link European stocks seen as Omicron’s concerns ease

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