The omicron concern drives European stocks down

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 15, 2021. REUTERS/Staff

By Anisha Sircar and Susan Mathew

Dec 17 (Reuters) – Banks and luxury stocks led declines on Friday, pushing European stocks into the red in a week that saw signs of monetary tightening from major central banks and concerns grew about the shock. economic situation of the omicron variant of the coronavirus.

* The pan-European STOXX 600 index fell 0.6% after rising on Thursday, when the European Central Bank cut stimulus slightly but promised to support the economy.

* The Bank of England raised interest rates unexpectedly, a day after the US Federal Reserve signaled its plans to tighten rates in 2022.

* As markets continue to digest the ECB’s decision, banks fell and euro zone bond yields also fell.

* The STOXX 600 lost 0.3% on the week and is now more than 3% from the all-time highs reached in November.

* The German DAX index fell 0.7% after a survey showed company morale declining for the sixth month as Europe’s largest economy feels the effects of supply bottlenecks and market restrictions. COVID-19.

* European countries prepare to impose new travel restrictions, but tourism values ​​rose 2.3% on Friday, with airlines leading the way.

(Report by Anisha Sircar in Bengaluru; Edited in Spanish by Javier López de Lérida)

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