European shares surged on Monday after their worst selloff in more than a year as investors digested whether the Omicron variant would deter economic recoveries and monetary tightening plans by central banks.
The pan-European STOXX 600 closed up 0.7%, logging its best day in a month and recovering some of Friday’s 3.7% slump triggered by concerns around the newly discovered variant.
Travel and leisure stocks rose, with Wizz Air, Lufthansa, TUI Group and Ryanair and Carnival; all rising between 1% and 5.5% after double-digit falls on Friday on fears of renewed travel restrictions.
Financial stocks added 1.7%, while energy and basic material stocks were also among the biggest boosts as prices of the underlying commodities rose.
London’s FTSE 100 also jumped 0.9% with investors also betting the Bank of England may be forced to rethink monetary policy tightening next month.<\/p>\n","protected":false},"excerpt":{"rendered":"
European shares surged on Monday after their worst selloff in more than a year as investors digested whether the Omicron variant would deter economic recoveries and monetary tightening plans by central banks.The pan-European STOXX 600 closed up 0.7%, logging its best day in a month and recovering some of Friday’s 3.7% slump triggered by concerns …<\/p>\n","protected":false},"author":13,"featured_media":53676,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6864,8166,7476,7932],"class_list":["post-55826","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-european-stocks","tag-omicron","tag-selloff","tag-stoxx-600"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/55826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=55826"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/55826\/revisions"}],"predecessor-version":[{"id":55830,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/55826\/revisions\/55830"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53676"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=55826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=55826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=55826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}