European shares up slightly, markets optimistic about limited Omicron fallout

European shares up slightly, markets optimistic about limited Omicron fallout

LONDON- European equities edged slightly higher on Wednesday, with markets optimistic that the Omicron coronavirus variant would only have a limited economic fallout, even as global cases surged and more countries announced restrictions. Europe's STOXX 600 rose 0.1% at 0857 GMT and the MSCI world equity index, which tracks shares in 50 countries, was also up 0.1%. Asian shares were broadly higher amid thin year-end liquidity. But London's FTSE 100 was down 0.2% and Wall Street futures were in the red. The slight gains in Europe come even as Germany, Scotland, Ireland, Portugal, the Netherlands and South Korea have reimposed lockdowns or other restrictions on activity in recent days. "It looks like each successive lockdown has been less severe in terms of economic impact than the previous ones. I think that’s partly because there’s been a lot of adaptation in the economy," said Arnab Das, global market strategist at Invesco. Das said markets were holding on to that hope this time around as well. "Maybe the restrictions won't be as severe, as comprehensive or as long-lasting as in 2020 and 2021," he added. The World Health Organization's chief scientist said on Monday that it would be "unwise" to conclude from