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Ignacio Teson•Friday, December 27, 2024•1 min read
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European equities returned to trading with positive performances following a two-day break for Christmas, Boxing Day, and St. Stephen’s Day (in Spain). Financial sector gains dominated the session as major indices posted advances.
Germany’s DAX index rose 0.55% to 19,958.63 points, while France’s CAC 40 climbed 1% to 7,355.37 points. Spain’s Ibex 35 also gained 0.45%, closing at 11,525.30 points.
The pan-European Stoxx 600 index closed 0.67% higher at 507.18 points, marking its highest level in a week and advancing nearly 1% for the week. Trading volumes remained below average due to the holiday period.
DAX
The automotive sector led gains with a 1.40% rise, while the healthcare sector added nearly 1%, buoyed by a 2.1% increase in Novo Nordisk shares, contributing significantly to the broader index’s performance.
Main World Movers
Outside the Eurozone, London’s FTSE 100 posted a modest gain of 0.16%, closing at 8,149.78 points. Among its top performers were Vistry Group, Centrica, and Diageo. The FTSE 100 advanced 0.81% for the week, recovering from two consecutive declines.
Meanwhile in America, the three main Wall Street indices are retreating on Friday morning. The stock averages are posting sharp declines, with the tech-heavy Nasdaq leading the losses and erasing its gains accumulated during this shortened trading week.
The Dow Jones Industrial Average, comprising 30 corporate giants, is down 0.94%, trading at 42,917.62 points. Meanwhile, the S&P 500 has dropped 1.35% to 5,956.28 points, and the Nasdaq Composite, heavily weighted toward technology, is sliding 1.99% to 19,621.45 points.
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
