Stock market: Europe opens up, Omicron – Economic impact assessed



European stock markets rebound after Friday’s crash with fears over the new variant identified in Africa. The markets are willing to bet that Omicron will have a less demanding impact than initially anticipated.

While health assessments are underway, investor attention is now focused on the next steps by central banks, especially the Fed, to support the economic recovery, also in light of inflation trends.

Start of the session up for Frankfurt (+ 1.06%), Paris (+ 1.36%), Madrid (+ 1.01%) and London (+ 0.8%). On the currency side, the euro fell against the dollar at 1.1269.

The Milan stock exchange (+ 1.1%) continues to grow, in line with other quotations from the Old Continent. Markets rebound after the sharp drop on Friday with an alarm regarding the variant of the coronavirus spotted in Africa. Tim slips into Piazza Affari (-1%), after the decline of Luigi Gubitosi and the delegations passed to President Salvatore Rossi while Pietro Labriola is the Managing Director. After the initial cut, the spread between BTP and Bundrisal rose to 132 points, with the Italian ten-year rate reaching almost 1% (0.99%). In view of the banks with the Popolare di Sondrio (+ 6.6%) which takes off after having fixed the appointment for the transformation into a spa. Banco Bpm (+ 1.6%), Carige (+ 1.2%), Intesa (+ 0.7%) and Bper (+ 0.5%) also performed well. Unicredit is positive (+ 0.9%), after the disposal of bad debts for 2.2 billion, while Mps is down (-0.3%). Session marked by the enthusiasm also for stocks linked to oil with Eni (+ 2.2%), Tenaris (+ 1.8%) and Saipem (+ 1.9%). Contrary to the Ftse Mib trend, there is Atlantia (-0.2%) and Diasorin (-0.8%). Out of the main list, Juve appears nervous (-3.4%), grappling with the investigation into the accounts and the injury of Federico Chiesa who can return in January 2022.

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