European stock markets recover somewhat after price fall due to Omikron variant

European stock markets recover somewhat after price fall due to Omikron variant

European stock markets made some gains on Monday after Friday’s sharp fall. Back then, investors were shocked by the outbreak of the Omikron variant of the coronavirus and possible consequences that this new variant could have for the economy. Especially companies that would suffer a lot from extra corona restrictions were now on the rise.

For example, retail property fund Unibail-Rodamco-Westfield was one of the biggest risers with a plus of 2.6 percent, while oil company Shell was 2.7 percent higher. Chip companies, which were hit hard on Friday, also did well again. Chip machine maker ASML was the biggest riser in the AEX and increased by 2.8 percent. ASMI (plus 2.3 percent) and Besi (plus 2.6 percent) also performed well. Among the medium-sized companies, fitness center operator Basic-Fit (plus 2.9 percent) topped the list.

The biggest faller in the AEX was Philips with a minus of 3.3 percent. Investors remain concerned about the issues with the company’s sleep apnea devices and the potential costs associated with them. Meal deliverer Just Eat Takeaway lost 2.8 percent. PostNL (minus 2.9 percent) was the last in the MidKap. If shops can remain open, consumers will have to order less online and the postal company will also transport fewer parcels.

The AEX ended 0.7 percent in the plus at 787.01 points. The MidKap rose 0.3 percent to 1037.04 points. The stock exchanges in Frankfurt, Paris and London rose to 0.9 percent.

Besides Shell, other oil companies also rose, such as BP (plus 3.4 percent in London) and TotalEnergies (plus 2 percent in Paris). Those companies were supported by oil prices, which also recovered. A barrel of US oil was worth 3.9 percent more to $ 70.80. A barrel of Brent oil rose 3 percent in value to $74.87.

In Frankfurt, BioNTech won almost 6 percent. The German pharmaceutical company and collaboration partner Pfizer expects to be able to provide clarity soon about the effectiveness of their vaccine against the Omikron variant. The vaccine can be modified within 100 days. Competitor Moderna also thinks it will soon be able to market an adapted vaccine. The American pharmaceutical company rose just under 10 percent in Frankfurt.

Ease2pay climbed more than 11 percent. Investors liked the purchase of the transaction platform for charging stations Involtum.

The euro was worth $1.1262, against $1.1307 on Friday.

European stock markets recover somewhat after price fall due to Omikron variant
Source link European stock markets recover somewhat after price fall due to Omikron variant

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