LONDON — European stocks are set to open slightly higher Thursday as traders looked to signs that the omicron Covid-19 variant is not as severe as previously feared.

Britain’s FTSE 100It is seen rising 27 points to 7,347 in Germany. DAXThe French rose 51 points, to 15,617 CACAccording to data from IG, the number of points increased by 30 at 7,068,

Investors reacted to a study out of South Africa — where the omicron strain was first discovered — suggesting a reduced risk of hospitalization and severe disease compared to delta.

Researchers have not reviewed the study but found that South Africans diagnosed with omicron between October 1 and November 3 had a 80% lower risk of being hospitalized than patients who contracted another type.

Although experts say that it’s too soon to determine the extent of Omicron’s severity, the study gives hope that the economic and human costs of this strain won’t be nearly as high as originally thought. Omicron has spread rapidly, prompting governments all over the globe to reinstate Covid restrictions to try to stop it.

The U.S. Centers for Disease Control and Prevention approved Wednesday’s antiviral Covid Pill from Pfizer for those aged 12 and over who are at high risk for severe illness.

This hope has boosted the global share market. Asia has the largest share market. stocks roseStock futures traded on Thursday, as well as stateside. trading slightly higher.

Investors also took in data showing that U.S. consumer trust rose to December despite concerns about omicron.

In Europe, Mario Draghi (Italian Prime Minister) suggested Wednesday that he was open to the possibility of becoming the president. Draghi said that his government has laid the foundations to allow for the continuation of key work.

This is corporate news RyanairOn Wednesday, it stated that its full-year loss forecast was nearly doubled. This is attributed to travel restrictions being imposed in large markets by the coronavirus.