Global shares follow Wall St higher, easing Omicron fears
Global shares rose on Tuesday after a rally on Wall Street as investors dismissed concerns about the highly transmissible Omicron variant of the coronavirus.
France’s CAC 40 was up 0.2 percent in early trade to 7,155.68, while Germany’s DAX was up 0.3 percent to 15,878.65. Britain’s FTSE 100 was little changed at 7,372.10.
US shares were set to rise, with Dow futures up nearly 0.1% to 26,200.00. S&P 500 futures were little changed, up less than 0.1% at 4,783.25.
With New Year celebrations approaching, the desire to let loose and party is being hampered by uncertainties over the omicron.
In the UK, the Omicron infection has pushed playboy levels to record highs, and in other parts of the UK authorities have ordered nightclubs to close and imposed limits on gatherings. .
Non-essential business closures and closures already in effect or soon in some European countries
Much of Asia has yet to see an increase in infections of the Omicron variant that has emerged in other parts of the world, but experts warn that the region is likely to not be spared.
Japan’s benchmark Nikkei 225 gained 1.4% to end at 29,069.16.
South Korea’s Kospi rose 0.7 percent to 3,020.24. Hong Kong’s Hang Seng recovered its initial losses up 0.2 percent to 23,280.56, while the Shanghai Composite added 0.4 percent to 3,630.11.
Trading was closed in Australia on Gifting Day.
In Japan, it’s been averaging 200 new cases daily recently, no big wave of new cases so far. Many areas are bustling with year-end shoppers and events are being held with spectators, although most people wear masks.
However, analysts warn of uncertainties ahead.
“The record rallies are a bit too optimistic,” said Vishnu Varathan of Mizuho Bank, pointing to a large number of Omicron cases in Europe and the US.
Tech companies led US stocks higher on Monday as Wall Street kicked off the final week in a stock market banner year with barely any trading.
With the omicron coronavirus variant continuing to spread rapidly throughout the US and other countries, most major investors have closed their doors for 2021 and want to hold their ground until next week.
Authorities in many countries have doubled down on vaccination efforts as the Omicron outbreak complicates efforts to prevent new closures while hospitals are still facing strain from infections. delta variant.
In energy trading, the price of U.S. benchmark crude rose 40 cents to $75.97 a barrel in electronic trading on the New York Mercantile Exchange. It rose $1.78 on Monday to $75.57 a barrel.
Brent crude, the international standard, rose 39 cents to $78.99 a barrel.
In currency trading, the US dollar inched down to $114.80 from $114.87. The euro is priced at $1.1330, inching up from $1.1327.