European markets are posting solid gains Tuesday, a sign that investors’ worries over a new and highly infectious new variant of COVID-19 are subsiding.

At midday, London’s FTSE index is up 0.3%, the CAC-40 index in Paris is 0.9% higher, and the DAX index in Frankfurt is up just over one percent.

Asian markets sustained a second consecutive day of significant losses earlier Tuesday.

The Nikkei index in Tokyo and Sydney’s S&P/ASX index both closed out their respective trading sessions with a one percent loss. Hong Kong’s index, the Hang Seng, ended 0.7% lower. The Shanghai Composite index plunged 1.8%. Seoul’s KOSPI index fell 1.6%, and the TSEC in Taipei lost 1.4%.

Mumbai’s Sensex index was the region’s only bright spot, finishing 0.9% higher.

In commodities trading, gold is trading at $1,877.90 an ounce, down 0.2%. U.S. crude oil is selling at $47.38 per barrel, down 1.2%, and Brent crude oil is selling at $50.42 per barrel, down 0.9%.

At least 40 nations, including many across Europe, have suspended arrivals of passengers from Britain for various lengths of time in response to a new coronavirus strain detected in southern Britain.

Ahead of Wall Street’s opening bell, all three major U.S. indices have rebounded and are trending higher in futures trading.

Source: Voice of America