Global markets in positive mood

By Belgin Yakısan Mutlu and Aysu Bicer

ISTANBUL (AA) - Global markets started Tuesday on a positive note as concerns over omicron eased as it is thought to be less potent than previous coronavirus variants.

Throughout the day, the current account balance in the US and the consumer confidence index in the eurozone will be followed by markets.

Developments regarding the pandemic continue to be the determining factor in the pricing of the stock markets.

The World Economic Forum (WEF) on Monday announced that it has postponed its annual meetings until the summer of 2022 due to the rapid spread of the omicron variant.

In the UK, the government is considering increasing virus related restrictions in order to reduce the burden on the health care system in the face of increasing cases.

British Prime Minister Boris Johnson, on the other hand, said the pandemic situation is extremely difficult, but that no new restrictions will be introduced at the moment, and that the possibility of taking further measures is reserved.

The Netherlands also went into closure from Dec. 19 until mid-January next year as part of pandemic measures.

Meanwhile, the sentiment in the German export industry has declined in December from the previous month, according to Munich-based Institute for Economic Research.

European stock markets closed lower on Monday amid rising numbers of omicron cases in Europe and related lockdowns.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 6.55 points, or 1.38%, to 467.35.

In Germany, the rapid growth of omicron cases is threatening to cripple already overwhelmed hospitals, according to Gerald Gass, head of the German Hospital Federation.

- US

US President Joe Biden will announce his new policy regarding the increasing COVID-19 cases in the country, but there is no closure on the White House agenda.

On the other hand, Moderna announced that the vaccine developed against COVID-19 produces a strong antibody response against the omicron variant.

With these developments, the day started with buyers in the US and European index futures contracts and Asian stock markets.

In Asia, the People's Bank of China will continue to lower its policy rate, while the Japanese parliament enacted an additional 36 trillion yen ($320 billion) budget for the 2021 fiscal year.