2125 GMT - New Zealand's NZX-50 drops 1.4% to 12455 in early trading on broad losses as the emergence of a new Covid-19 variant unsettles markets that had priced in some recovery from the pandemic. Including Friday's loss--which came after South African officials warned about the Omicron variant spreading quickly through part of the country's population--the index is down more than 2.5%. However data on the variant is still limited and the seriousness of the threat is uncertain. Travel and consumer stocks posted the steepest losses. Outdoor wear retailer Kathmandu sank 5.3% and Air New Zealand slid 4.4%. Casino operator Skycity Entertainment and Auckland International Airport both dropped 2.9%. (stephen.wright@wsj.com)