European stock markets steady after surge

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.