European stock markets steady after surge

China's real estate industry has cooled in recent months after Beijing tightened home buying rules and launched a regulatory assault on speculation

China's real estate industry has cooled in recent months after Beijing tightened home buying rules and launched a regulatory assault on speculation

AFP/File | STR

LONDON - Europe's top stock markets steadied on Wednesday after surging the previous session on easing concerns over financial fallout from coronavirus variant Omicron.

Asian equities built on recent strong gains after a Wall Street rally on Tuesday.

"The overall outlook for equities remains firmly positive," said Chris Beauchamp, chief market analyst at IG.

"The previous three sessions put markets firmly back on the front foot, with Omicron concerns almost entirely evaporating."

World stocks and oil had tanked on November 26 when news of the new variant first flashed across traders' screens.

After a rollercoaster ride, investors are now optimistic over the outlook in the run-up to Christmas.

Carol Kong, a strategist at Commonwealth Bank of Australia, said the initial evidence about Omicron "appears to have calmed financial markets, for now, as evidenced by the recovery in risk assets".

"But we caution against drawing conclusions from these early reports."

Source
AFP

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