- Equities in the United Kingdom gained ahead of the Christmas break, despite low trade volumes, on the belief that Omicron is less severe than other types.
- While equities rose after a UK government study indicated that omicron appeared to be less severe but more contagious than other covid types, the risk of future restrictions kept gains in check. Prime Minister Boris Johnson had urged prudence during the holidays as he contemplates tightening pandemic laws next week, while Germany's chief of state has issued a pandemic warning in response to the spread of Omicron.
- European markets have had a tumultuous end to the year as investors weigh virus restrictions and central banks withdrawing support against hopes that the economic rebound would not be derailed. Yesterday, the benchmark rose to its highest level in a month, owing to confidence that Omicron appeared to be less likely to result in hospitalizations than the delta strain.
- Tariff waivers for select US goods will be extended by China.
- Russia’s Deputy PM Novak: Oil demand will rebound to pre-pandemic levels by the end of 2022.