European equities were trading near the flat line on Wednesday, as investors paused to digest a roller coaster week so far amid headlines on the spread of the omicron variant of the coronavirus.
Investors continue to watch surging COVID-19 infections, with Spain’s Madrid region, for example, setting a record on Tuesday with 11,221 infections, the highest of the pandemic thus far as pharmacies ran out of antigen testing kits and healthcare centers came under strain. One region in Spain, Catalonia, has announced restrictions on some business and consumer activity.
“Some preliminary results from the UK Health and Security agency around the effects of the Omicron variant appear to be being received positively today,” said Michael Hewson, chief market analyst at CMC Markets, in a note to clients.
Among stocks on the move, shares of Danish shipping giant AP Moeller-Maersk MAERSK.B, +0.58% rose 0.5% after agreeing to buy privately held Asian warehouse group LF Logistics in an all-cash deal worth $3.6 billion.
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