Producers of metals and other raw materials rose amid mounting confidence in the outlook for global economic growth.
Fears that the Omicron variant of Covid-19 would trip up a burgeoning global recovery have eased in recent sessions as data from South Africa suggest the variant is more infectious but less deadly than previous strains. Still, some strategists say responses to Omicron, such as Britain's recent decision to introduce some restrictions, could still have knock-on effects.
"While our base case is that Omicron will not derail the recovery, we acknowledge that the new variant does bring some additional risks with it on the policy front," said strategists at money manager UBS Global Wealth Management, in a note to clients.
"For instance, we could have a scenario where partial government restrictions have only a limited impact on economic activity but delay normalization of supply chain and labor markets and result in more persistent inflation."
Commodities trading house Trafigura Group posted $3.1 billion in net profit on $231.3 billion in revenue in the 12 months through September.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-08-21 1645ET
