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Global shares poised for biggest two-day jump since November

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MSCI’s world equity index rises 0.2% — its highest since November 26, when Omicron fears first hit markets

MSCI’s world equity index rises 0.2% — its highest since November 26, when Omicron fears first spooked markets— A rebound in market sentiment continued in early European trading on Wednesday, with world shares set for their biggest two-day jump since November last year as investors became less concerned about the Omicron variant.

The MSCI world equity index, which tracks shares in 50 countries, was up 0.2% — its highest since November 26, when Omicron fears first hit markets. British drugmaker GSK said on Tuesday its antibody-based Covid-19-19 therapy with US partner Vir Biotechnology was effective against all mutations of Omicron.“Clearly in the very short term uncertainty has risen over the Omicron virus ... but overall at this stage we do not believe it will derail the macro picture in the medium term,” said Jeremy Gatto, multi-asset portfolio manager at Unigestion.

 

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