World stocks rally as Omicron fears ease

Global stock markets rally on fading fears over dangers arising from the new Omicron COVID variant.

London stocks win 1.2 percent in late morning deals, while Frankfurt and Paris fizz more than two percent higher at midday in the eurozone.

The dollar treads higher, while oil extended gains on dimming energy demand concerns.

Asian equities climb despite renewed worries over potential debt defaults in China’s troubled property sector.

“Markets flushed out at the first sign of Omicron, but now are more confident it won’t be as bad as first feared,” says analyst Neil Wilson.

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