European Shares Rise, Driven by Wall Street Gains

European shares rose to a five-week high on Tuesday, boosted by record gains on Wall Street, despite persistent omicron concerns as France tightened control restrictions while infections surged in Spain and Britain.

The pan-European Stoxx 600 index rose 0.6 percent after rising 0.6 percent in the previous session, its highest gain in more than a month.

Risk appetite remained strong towards the end of the year, analysts said, despite the mutant Omicron’s threat to derail a global economy already grappling with slowing growth, supply chain crises, and soaring prices.

Shares in defensive sectors such as healthcare and industrial companies led the gains, while almost all sectors advanced.