European markets in difficulty as omicron Covid variant fears return – .

European markets in difficulty as omicron Covid variant fears return – .

LONDON – European stocks are expected to open lower on Thursday as concerns persist over the omicron Covid variant.
The British FTSE index would open 80 points down to 7,086, the German DAX 176 points down to 15,295, the French CAC 40 down 91 points to 6,797 and the Italian FTSE MIB 326 points down to 26,026, according to IG data.

Major Asia-Pacific and U.S. markets rebounded on Wednesday despite fears about the new variant and the Federal Reserve considering a faster-than-expected cut.

But global stocks appear to be struggling to regain momentum amid continued uncertainty about the risks posed by the new omicron variant of Covid, first spotted in South Africa last week and named as’ variant worrying ”by the World Health Organization.

The WHO said on Wednesday that at least 23 countries in five of the six WHO regions have now reported cases of omicron, “and we expect that number to increase.” He also noted that hospitalizations were on the rise in South Africa, but said it was still too early to know whether the omicron variant was leading to an increase in severe cases of Covid-19.

Asia-Pacific markets were mixed on Thursday as U.S. stock index futures edged higher overnight after the CDC confirmed the first known case of the omicron variant in the United States, pushing down the actions. The first case of the highly mutated variant has been detected in northern California.
The data released includes the euro area unemployment rate for October and producer prices for the same month. There are no big gains on Thursday.

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