European Stocks End Lower Amid Concerns Over Rapidly Spreading New COVID-19 Variant

European stocks closed lower on Thursday as investors continue to be rattled by the new and highly infectious COVID-19 variant, omicron, which is spreading rapidly across the world.

Germany's DAX slipped 1.4%, France's CAC 40 fell 1.3%, and Stoxx Europe was down 1.1%. The FTSE 100 in the UK ended down 0.6% while the Swiss Market Index closed 0.7% lower.

The seasonally adjusted unemployment rate in the euro area fell to 7.3% in October, in line with estimates, compared with 7.4% in September and 8.4% a year earlier, data from European statistical institute Eurostat showed. In the wider European Union, unemployment remained stable month on month at 6.7%, but was lower than the 7.5% recorded in October 2020.

The eurozone industrial producer prices jumped 5.4% on a monthly basis in October, compared with an increase of 2.7% in September, according to Eurostat. On a yearly basis, the index was up 21.9% in October.

Britain's Financial Conduct Authority approved several changes to its listings rules in a bid to boost growth and innovation on the UK's stock markets, following a consultation on the matter. The changes, which will come into force on Friday, will allow a targeted form of dual-class share structures allowing company founders to keep some control for a certain period.

On the corporate front, Switzerland-based Vifor Pharma VVIFN jumped nearly 21% on reports it is in advanced negotiations regarding a more than $10 billion takeover deal by Australian biotechnology company CSL, The Australian Financial Review's Street Talk reported Thursday, citing sources. The two sides could take weeks to reach a final agreement, the report said.