The Most Stable Sectors Support European Shares

European shares rose on Wednesday after posting their biggest two-day gain in more than a year, as shares in sectors that are usually stable in times of crisis rose as investors weighed the effectiveness of available vaccines against the new mutated Omicron from the Coronavirus.

The pan-European Stoxx 600 index rose 0.1 percent after jumping 3.8 percent in the previous two days.

The shares of German Biotech, which jointly produces the Covid-19 vaccine with Pfizer, fell 6.3% after a study showed that the mutant Omicron could partially evade protection after two doses of this vaccine.

The biggest gainers were shares in sectors that are stable in times of uncertainty, such as healthcare and food and beverage.

Nestlé shares rose 1.6 percent to trade near record highs.