European stocks continue to recover as Omicron fears ease

European stocks rose on Wednesday, extending gains for the second straight session, thanks to improved market sentiment, after concerns about Omicron eased.

The Stoxx Europe 600 index rose 0.2% as of 11:15 GMT, after closing higher by 1.4% yesterday, and rebounded from a 3-week low.

The travel sector saw the largest gains in Europe today, with a rise of over 0.75%, as fears about Omicron eased.

Early evidence suggests that Omicron appears to result in mild symptoms compared to other Covid variants, which led most governments avoid imposing further restrictions.

The American biotech frim Moderna stated that a booster shot of its Covid-19 vaccine protect from Omicron infection.

AstraZeneca said on Tuesday it had begun working with Oxford University to produce an Omicron vaccine.

S&P 500 futures rose 0.1% today ahead of Wall Street's opening, after the index closed higher by 1.8% yesterday and rebounded from a 3-week low.

Back to Europe, the Euro Stoxx 50 index rose 0.2%, France's CAC 40 rose 0.4%, and Germany's DAX index rose 0.3%, while the UK's FTSE 100 rose 0.1%.