Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Breaking News

Cisco, Tesla, Kohl's Fall Premarket; Grab, Canada Goose Rise

Stocks firm on Europe's last full trading day of 2021

Stock MarketsDec 30, 2021 12:37PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 29, 2021. REUTERS/Staff

By Anisha Sircar and Shashank Nayar

(Reuters) - European shares ended higher on Thursday on hopes fresh curbs and restrictions may not be needed to fight the pandemic going into the new year, but a surge in COVID-19 cases due to the Omicron variant kept a lid on gains.

The pan-European STOXX 600 rose 0.3%, up for the second straight week with the tech sector, healthcare and travel stocks (SXTP), in the lead.

Most European bourses including Germany's DAX, France's CAC40, Spain's IBEX and London's FTSE 100 were on-track to record gains for the second consecutive week.

However, risks of hawkish central banks decisions on rising inflation pressures and lingering concerns of recent jump in global Omicron cases have limited gains so far.

The European Central Bank is close to meeting its 2% medium-term inflation target and can unwind stimulus quicker than planned if price growth continues to surprise on the upside, Dutch central bank chief Klaas Knot told a German newspaper.

"Traders continue to shake off the headlines about the rising number of patients with the omicron variant ... It is worrying that case numbers are high, but the low hospitalisation rates are determining the mood in the markets," said David Madden, an analyst at Equiti Capital.

Spain's IBEX rose 0.5% even as flash data showed consumer prices in December rose 6.7% across the country from the same month last year, the fastest annual pace of inflation since 1989.

The index has underperformed its regional peers in 2021, gaining a near 8%, compared with the STOXX 600's 22% rise.

France's CAC 40 has jumped 29.2% year-to-date, eclipsing the STOXX 600's gains, as hopes of an economic recovery boosted luxury stocks, even though the outlook for demand from Asia remains bleak into the new year.

Graphic:STOXX 600 CAC 40-https://fingfx.thomsonreuters.com/gfx/mkt/dwvkrkgxypm/FINAL%20.EU.png

Global COVID-19 infections hit a record high over the past seven-day period, Reuters data showed on Wednesday, as countries try to fight the pandemic while keeping economies open.

British Prime Minister Boris Johnson said this week he would not bring in new pandemic-related restrictions this year, while a curfew has been ruled out in mainland France.

Researchers said on Thursday a booster dose of Johnson & Johnson (NYSE:JNJ)'s COVID-19 vaccine was 84% effective at preventing hospitalisation in South African healthcare workers who became infected as Omicron spread.

Several European markets including Italy, Germany and Spain will be closed on Friday, while Paris and London will trade for half a session, ahead of the New Year.

Stocks firm on Europe's last full trading day of 2021
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email