European stocks climb in thin holiday trade | Malay Mail

BERLIN, Dec 24 — European shares eked out slim gains in light holiday trading today, following a recent rally in global shares on signs the Omicron coronavirus variant may not derail global economic recovery.

Most Asian markets edged higher and the S&P 500 closed at a record high overnight on positive economic data and as some studies suggested the Omicron variant carries a lower risk of hospitalisation. “The European market is moving in tight ranges, a little bit biased to the upside, due to light holiday trading and also driven by fears of possible restrictions and lockdowns,” said Raed Alkhedr, chief market analyst at Equiti Group.

Though 2021 was marked by accommodative fiscal stimulus and positive corporate earnings, supply bottlenecks, inflationary pressures and a new Covid-19 variant threaten growth and recovery into 2022.

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