For some it is pure inertia, for others a collective will to consolidate profits and prop up a worthy annual closing. In any case, the session ended this Tuesday with a predominance of purchases despite the threat of the omicron variant. The 0.86% rise was in line with the trend set in the optimistic last five sessions. Investors remain confident of a moderate impact from the new wave of coronavirus, without hospital collapses and little brake on productive activity. The sensation that rapid contagion is inversely proportional to health severity flies over the markets and in this speculative framework, money turns its back on fears and embraces investment opportunities around still attractive values. The 8,700 point level seems to please analysts and it does not seem unreasonable to think about the credibility of that consensus. And on top of that, the omicron threat, including the suspension of thousands of flights on Christmas dates, does not prevent the stock market rally of lagged values this year in the tourism sector such as IAG, Meliá and Aena. Securities with a defensive profile such as Red Eléctrica, Enagás, Endesa, Naturgy and Iberdrola also benefit from this pandemic year-end.
The European indices are once again approaching the highs reached before the outbreak of the omicron alerts, while the companies most linked to energy and raw materials continue to be powerful in the face of the oil rises. The price of gold is above the barrier of $ 1,800 an ounce and opens another point of attention for more conservative investors.