LONDON — European stocks are expected to start the new trading week far higher, despite extensive concerns over the newly discovered omicron Covid variant.

United Kingdom’s FTSEIndex is opened 97 points higher at 7.137. Germany’s DAX 191 points higher at 15,437, France’s CAC 40 up 99 points at 6,824 and Italy’s FTSE MIBAccording to data from IG, the 26167 point increase was 324 points

European markets look set for a boom despite growing concerns about the Omicron variant of the drug that the World Health Organization labels as “An Omicron Variant”.variant of concern” last Friday.

While researchers continue to investigate the variant, the alarming number of mutations found in omicron has raised concerns. According to WHO, preliminary evidence indicates that the strain is more susceptible to reinfection.

It has been found in the U.K., Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong, but not yetIn the U.S. Numerous countries including the U.S. moved to restrict travel From southern Africa

The vaccine makers announced that they would investigate the possibility of omicron. testing already underway. It remains to be determined how the omicron reacts to vaccines and whether or not new formulations will be required. Moderna’Paul Burton, Chief Medical Officer of the Department of Medicine said that Sunday’s announcement by Burton was about the vaccine manufacturer. could roll out a reformulated vaccine against the omicron variant early next year.