Fading Omicron concerns set up shares for weekly gain, dent dollar

<a href=”http://tmsnrt.rs/2yaDPgn”>2021 asset performance</a>
<a href=”http://tmsnrt.rs/2egbfVh”>World FX rates year-to-date</a>

MILAN/HONG KONG, Dec 24 (Reuters) – Stock markets in Europe and Asia cemented gains in light holiday trade on Friday, while the safe-haven dollar eased on signs the Omicron variant would not significantly derail global economic growth.

The greenback was set for its worst week in four months while other risk-friendly assets from bitcoin to the Australian dollar held onto their recent gains, buoyed by ebbing concerns over the severity of the new COVID-19 variant.

A top European equity benchmark (.STOXX) hovered around one month highs after a week of gains and the MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.1%, after a record closing high for S&P 500 (.SPX) on Thursday.

Even though it is highly infectious, studies…