Europe’s stock markets registered strong monthly declines in November, in the face of a new wave of Covid-19 that has generated closures of activities in some countries. Added to that was concern over the discovery of the new variant of Ómicron, which Moderna says could withstand current vaccines.
The Madrid Stock Exchange led losses, with a cumulative drop for its index Ibex 35 of -8.31%, the most pronounced since March 2020, at the height of the pandemic. The Italian FTSE MIB fell -3.95%; the DAX German, -3.75%; the london FTSE 100, -2.46%, and on the Paris Stock Exchange, the CAC 40 fell -1.60 percent.
On Tuesday’s session there were considerable losses in the indices, after an apparent truce on Monday from fear of the new mutation of the global virus. Comments were added to the pressure from the Federal Reserve (Fed) on inflationary pressures that may not be transitory in nature.
The director of the pharmaceutical company Moderna warned that the Omicron variant of Covid-19 could be resistant to current vaccines. The company Regeneron, developer of one of the first drugs against the disease, reported that tests of its drug showed signs of less effectiveness against Omicron.
“The stock markets of Europe had generalized falls before inflation data reported by this bloc and doubts about the virus. The health authorities of Europe agree with the African ones that the new variant could unleash a less acute disease, but the bad news prevails “said eToro.
Reference-www.eleconomista.com.mx