European Shares Rise as Fears of Omicron Recede

European shares rose on Thursday on hopes that new restrictions may not be required to combat the Covid-19 pandemic in 2022 and expectations that the mutant omicron will be less affected, but gains remained limited due to an increase in infections with the disease.

By 0815 GMT, the pan-European Stoxx 600 index rose 0.1 percent, after falling by the same percentage on Wednesday. Healthcare, technology and retail sectors led the gains.

Several European markets, including Italy, Germany and Spain, are closed on Friday, while trading will be half-time in other markets, such as Paris and London, on the eve of the New Year.

With Covid-19 infections recording record highs around the world over the seven days to Tuesday, researchers said that a booster dose of Johnson’s vaccine was 84 percent effective in preventing hospitalization among South African medical staff who were infected with the spread of the Omicron mutant.

Siemens Healtheners rose 0.6 percent after the US drug regulator approved the emergency use of home tests for Covid-19 infection produced by the German company.