Markets have been reacting throughout the past couple of weeks to comments and research into the transmissibility and severity of the new omicron Covid variant, with a number of major economies now implementing tighter containment measures. Stateside, US stocks were slightly higher on Friday despite the inflation surge, after investors on Thursday pulled back from the rebound earlier in the week. Stocks in Asia-Pacific broadly declined on Friday as investors opted for caution ahead of the data, while keeping an eye on news about the omicron variant. On the data front in Europe, the UK economy grew just 0.1% month-on-month in October, shy of expectations in a Reuters poll for a 0.4% expansion. The reading has fueled doubts over whether the Bank of England will hike interest rates at its next meeting.