{"id":147379,"date":"2021-12-14T20:50:10","date_gmt":"2021-12-14T20:50:10","guid":{"rendered":"https:\/\/precoinnews.com\/?p=147379"},"modified":"2021-12-14T20:50:10","modified_gmt":"2021-12-14T20:50:10","slug":"european-shares-rise-on-easing-omicron-worries","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/european-shares-rise-on-easing-omicron-worries\/","title":{"rendered":"European Shares Rise On Easing Omicron Worries"},"content":{"rendered":"
European stocks were moving higher on Monday, as worries about the Omicron coronavirus<\/span> variant eased, with a South African health<\/span> official saying that the variant caused mild infections.<\/p>\n Elsewhere, top U.S. infectious disease official Anthony Fauci told CNN that scientists need more information before drawing conclusions about Omicron’s severity.<\/p>\n Chinese Premier Li Keqiang’s comments on cut in reserve requirement ratios also helped underpin investor sentiment.<\/p>\n Energy stocks topped the gainers list after top exporter Saudi Arabia hiked prices for crude sold to Asia and the United States.<\/p>\n The pan European Stoxx 600 rose 0.8 percent to 466.46 after declining 0.6 percent on Friday. <\/p>\n The German DAX climbed 0.9 percent, France’s CAC 40 index gained 0.7 percent and the U.K.’s FTSE 100 was up 0.9 percent. <\/p>\n TotalEnergies jumped 2.1 percent, while BP Plc and Royal Dutch Shell both rose about 1.8 percent as oil prices rose by more than $1 a barrel after the Saudi price hike.<\/p>\n Shipping firm Clarkson jumped 4.3 percent after raising its annual profit outlook. <\/p>\n Victrex, a supplier of polymers, rallied 3.4 percent after pretax profit and revenue increased for fiscal 2021.<\/p>\n Online food ordering company Just Eat Takeaway.com lost 4 percent after Bernstein downgraded its rating on the stock. <\/p>\n Plane maker Airbus SE added 1.2 percent in Paris. The company announced that The Helicopter Company, the first and only helicopter services provider in Saudi Arabia, has signed a second purchase agreement with Airbus Helicopters.<\/p>\n Construction materials company Saint-Gobain gained 1.3 percent after announcing it would buy U.S.-based GCP Applied Technologies in a deal valued at around $2.3 billion.<\/p>\n In economic releases, German factory orders declined sharply in October, data released by Destatis showed earlier in the day.<\/p>\n Factory orders decreased 6.9 percent month-on-month in October, reversing a 1.8 percent rise in September. Economists had forecast a moderate fall of 0.5 percent.<\/p>\n On a yearly basis, factory orders dropped 1 percent, in contrast to the 10.3 percent rise a month ago. <\/p>\n