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European stocks advanced on Tuesday after a string of new studies suggested that the Omicron virus variant might be less severe than initially feared.

Strong economic data from Germany and the U.K. also boosted investor hopes for a quick economic recovery from the pandemic.

Germany’s retail sales rose for a second straight month in November, defying expectations for a decline, preliminary data from Destatis showed.

Retail sales increased a calendar and seasonally adjusted 0.6 percent from the previous month. Economists had forecast a 0.5 percent fall. In October, sales grew a revised 0.5 percent.

Separate data from the British Retail Consortium showed that U.K. shop prices grew at a faster pace in December.

Shop prices climbed 0.8 percent on a yearly basis in December, following a 0.3 percent gain in November, which was the first rise in two-and-a-half years.

The pan European Stoxx 600 climbed 0.6 percent to 492.88 after rising half a percent on Monday.

The German DAX rose 0.3 percent, France’s CAC 40 index added 0.9 percent and the U.K.’s FTSE 100 rallied 1.2 percent.

Julius Baer gained 0.8 percent. The Swiss private bank is parting ways with an independent wealth manager it bought five years ago.

Novartis rose about half a percent. The pharmaceutical firm said the U.S. Court of Appeals for the Federal Circuit has issued its decision upholding the validity of the US patent covering a dosing regimen for Gilenya.

Swedish telecommunications company Telia Company AB dropped 0.6 percent after it agreed to sell Telia Latvija SIA to Tet SIA.

Capita Plc shares advanced 1.2 percent. The British BPO company said that it completed on 3rd January, the sale of its Secure Solutions and Services (SSS) business to NEC Software Solutions U.K. for a consideration of 62 million pounds.

Wizz Air Holdings soared nearly 19 percent. The low-cost airline reported that it carried 2.64 million passengers in the month of December 2021, up 296.3 percent from 665,722 passengers a year ago. British Airways-owner IAG jumped 10 percent.

Nordex Group, a German wind turbine maker, rose about 2.8 percent. The company said that it has received an order for 380 MW wind turbines from Finnish utility company Fortum for Pjelax-Böle-Kristinestad Norr wind farm cluster in Finland.

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