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Stocks Solid as South Africa Data Better Than Feared

EQUITIES
  • COVID re-opening names including the likes of Norwegian Cruiselines, American Airlines and Live Nation Entertainment stormed higher Monday, with (admittedly very early) data suggesting the new Omicron variant may be more infectious, but may result in fewer hospitalizations and fatalities.
  • Wall Street traded uniformly higher, with the bluechip-led Dow Jones adding near 2%. The utilities and real estate sectors supported headline indices, although tech names underperformed, with semi-conductors a particular spot of weakness.
  • European trade was similarly positive, with gains of 1.4-2.4% uniform across continental indices. Spain's IBEX-35 led gains, with Germany's DAX lagging slightly - although still booking gains of 1.4%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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