Stock markets worry as Omicron uncertainty increases

Stock markets worry as Omicron uncertainty increases

Investors received contrasting views relating to the new variant of the coronavirus which caused a significant pullback at the end of last week and was followed by an attempted recovery during Monday's session. However, the situation has changed again today with the majority of stock indices pulling back from yesterday’s close and dropping to new lows as moods worsened following comments from Moderna’s CEO stating that the new variant could be more resistant to currently available vaccines. While most consider widespread total lockdown an unlikely scenario, any major disruption to the post pandemic recovery caused by restrictions or supply chain issues could have disastrous consequences on markets and could potentially lead to central bank interventions once again.

Easyjet upbeat yearly results unable to boost share price

While today's yearly results may provide some reassurance thanks to better than expected figures, showing a headline loss before tax of £1,136 million and a commitment to continue the company's cost saving policy as well as expanding it in the future, they were unable to boost share price with the stock continuing to trade below yesterday's close and despite a brief attempt to recover, reaching the lowest level since the beginning of November. Investors will be closely following the ongoing pandemic situation as any major lockdowns or restrictions could have far reaching effects for the company and airline industry as a whole heading towards the end of 2021

Walid Koudmani

Walid Koudmani

Market Analyst working in UK-Italian-Arabic markets covering a broad range of assets including stocks, commodities, FX and crypto. English, Italian and Arabic Speaker with a B.A in Business Management. Quoted in many prestigious publications including the Guardian, Barrons and Lefigaro and winner of bloomberg top forecast rank Q-2/Q-3 2020.