FTSE 100 rebounds as oil rallies despite worries over Omicron variant – business live | Business

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Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

After their biggest losses in a year on Friday, stock markets appear to be stabilising as investors seek more information about the Omicron variant that is prompting some governments to bring in new travel rules, and could threaten the global recovery.

Asia-Pacific markets have dropped further today, with Japan’s Nikkei losing another 1.6%, as Tokyo’s government announced it is temporarily shutting its borders to foreign visitors.

Hong Kong’s Hang Seng is down 1.1%, and South Korea’s KOSPI dipping 0.9%.

Travel and hospitality stocks were hit by investor concerns over the spread of Omicron around the world, which has also prompted Israel to bar entry to all foreign nationals and Morocco to suspend all incoming flights for two weeks,

Japan Airlines’s shares are down 4%, with Hong Kong’s Cathay…

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