European shares rose on Monday after their worst selloff in more than a year as investors awaited clues on whether the Omicron variant of coronavirus would hamper economic recoveries and monetary tightening plans by central banks.
The pan-European STOXX 600 ended up 0.7%, logging its best day in a month and recovering some of Friday’s 3.7% slump triggered by concerns around the newly discovered variant.
While the variant was spotted in several countries across the globe, a South African doctor, who was one of the first to suspect a different strain, said that symptoms were so far mild and could be treated at home.
