Markets waver on Christmas Eve as Omicron fears recede

Markets waver on Christmas Eve as Omicron fears recede

World stock markets wavered on Friday in subdued Christmas Eve trade as investors mulled receding Omicron coronavirus fears, with European bourses wrapping up early before the long holiday weekend. Asian equities mostly rose in thin volumes after Wall Street finished its trading week Thursday with strong gains on solid economic data. The London and Paris stock exchanges ran out of steam in a half-day session with traders somewhat wary over more possible restrictions to curb Omicron. “Markets ... remain reticent today due to lower volumes as traders are away for a holiday period,” AvaTrade analyst Naeem Aslam told AFP. “We believe overall there is still plenty of optimism about COVID vaccines -- however, concerns are real that more restrictions may be placed ahead of New Year’s Eve to curtail the spread of COVID.” Frankfurt’s DAX index had shut Thursday, closing the week with a 1.0-percent gain at 15,756.31 points. Studies indicating Omicron infections are less likely to result in hospitalisation have increased confidence that the pandemic will have less impact on the economy. Sentiment has also been buoyed by US approval of drugs from Merck and Pfizer to add to a growing arsenal of weapons against Covid. “Omicron is looking