Traders continue to be bullish as the fear surrounding the omicron variant of the coronavirus continue to fall, and that has pushed up equity markets.
European equity markets are down on the day because of the sizeable losses seen in the US last night. Yesterday, America recorded its first case of the omicron variant of the Covid-19 virus, and that impacted markets in Asia and Europe.
Equity markets are down this afternoon as Stephane Bancel, the CEO of Moderna, cautioned that existing Covid-19 vaccinations might struggle to contain the omicron strain of the virus.
The mood in the markets today is very different to what was seen last Friday when traders were running for the hills due to renewed concerns about the pandemic.
It has been a quiet start to the week following the exciting moves seen in the markets last week. The actions of the Federal Reserve and Bank of England pushed up stocks, and Friday’s US non-farm payrolls report was the icing on the cake.
Last month the Associated British Foods (ABF) share price fell to an 11 month low as the company confirmed that its clothing division, Primark, experienced lower than expected sales during the summer.
It has been a busy 24 hours for central banks as the Federal Reserve announced its tapering plans last night, and today, the Bank of England kept rates on hold, disappointing may traders.
S stock markets are up following the news the US economy grew by only 2% in the third quarter, while economists were expecting a reading of 2.6%.
European stock markets are down this afternoon as renewed fears about the heavily indebted Chinese property group, Evergrande, have dented sentiment.
The mood in equity markets is downbeat on account of the disappointing data posted by China overnight, in addition to that, the tick higher in government bond yields is hurting stocks too.
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