Investors cling to hope as Omicron spreads, shares rebound – Reuters

Investors cling to hope as Omicron spreads, shares rebound – Reuters

LONDON, Nov 29 (Reuters) - A semblance of calm returned to world markets on Monday as investors waited for more details to assess the severity of the Omicron coronavirus variant on the world economy, allowing battered stocks and oil prices to rebound.

European shares rallied over 1%, U.S. stock futures pointed to a firm Wall Street open, oil prices bounced more than $3 and safe-haven bonds lost ground as markets latched onto hopes the new variant of concern would prove milder than initially feared. read more

News of the variant triggered alarm and a sell-off on Friday that wiped roughly $2 trillion off the value of global stocks, as countries slapped on new curbs for fear it could resist vaccinations and upend a nascent economic re-opening after a two-year global pandemic.