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European Stocks Close Higher

(RTTNews) - European stocks closed higher on Monday, rebounding on bargain hunting at several counters following the previous session's sell-off.

Traders appeared to be betting on optimism about growth despite concerns about a new variant of the coronavirus that emerged last week.

The World Health Organization, which held an emergency meeting on Friday, declared the new virus variant a matter of concern, noting its transmissibility and named it the Omicron variant of the coronavirus.

According to reports, the Omicron variant has been found in the U.K., Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong. Many countries, including the U.S., have already moved to restrict travel from southern Africa.

While the WHO has said it could take weeks to understand the variant's severity, a South African doctor who has treated cases said symptoms so far seemed to be mild.
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