LONDON — European stocks are expected to open in mixed territory on Tuesday as investors weigh new developments relating to the omicron Covid variant.

United Kingdom’s FTSEThe index opens at 7.230. Germany’s DAX 32 points higher at 15,426, France’s CAC 40 up 10 points at 6,889 and Italy’s FTSE MIBAccording to data from IG, it was 137 points more at 26,583,

After the European stock market moved higher Monday, investors continued to watch developments surrounding the omicron Covid variation. This has led to a more cautious start.

White House Chief Medical Advisor Dr. Anthony Fauci said on Sunday that the initial data regarding the variant was “encouraging,” though he cautioned that more information was needed to fully understand it.

Stocks across Asia-PacificWall Street rallied after Monday’s losses, and the stock market jumped on Tuesday. The Wall Street rally was fueled by optimism that the risk of the omicron variation being dangerous wasn’t as serious as it had been feared. After a Monday rebound, U.S. stock markets were unchanged in overnight trading.

Investors also consider the probability that the U.S. Federal Reserve might end its policies of pandemic ease and increase rates faster than they expect.

Fed officials comment on the central bank is likely to decide to double the pace of its taper to $30 billion a month at its December meeting next week. The December meeting could be the beginning of initial discussions about how to increase interest rates next year and when.

German data includes figures on industrial production for October and Dutch inflation figures November. Also, the release of Swiss unemployment figures November. Tuesday has no notable earnings.

— CNBC’s Yun Li contributed to this market report.