European Stocks May Open Higher

(RTTNews) - Despite rising concerns about a new coronavirus variant, Omicron, European stocks are likely to open higher on Monday, as traders are likely to go in for some bargain hunting after the terrible tumble in the previous session.

However, virus concerns might limit markets' upside. The World Health Organization, which held an emergency meeting on Friday, declared the new virus variant a matter of concern, noting its transmissibility.

The new variant has been red-flagged by scientists over an alarmingly high number of spike mutations that might make the virus more resistant to vaccines.

Meannbile, Moderna's Chief Medical Officer Paul Burton said Sunday the vaccine maker could roll out a reformulated vaccine against the omicron variant early next year.

Oil's rebound from recent hefty losses is likely to trigger some strong buying in the energy sector. Travel-related stocks may see a choppy ride. Although some buying is likely after the sharp decline in the previous session, the sector may find the going a bit tough due to likelihood of stricter restrictions on travel.
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