[Europe Open] Early Year Rally Continues... Euro Stoxx 50 Up 0.43%
[Asia Economy Reporter Cha Min-young] European stock markets started higher in early trading on the 4th (local time), continuing the rally that has persisted since the beginning of the year.
As of 5:58 PM Korea time, the Euro Stoxx 50 index was trading at 4350.39, up 0.43% from the previous close.
The UK FTSE index rose 1.26% to 7477.39, the French CAC index increased 0.81% to 7275.63, and the German DAX index was up 0.18% at 16,049.70.
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The leading sectors driving the current rally are cyclical stocks related to travel, retail, airlines, and raw materials. Traditionally, the beginning of the year shows a clear upward trend in global stock markets, and this is interpreted as a result of relief that the Omicron variant of the COVID-19 virus may be less severe than initially feared.
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