Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

European shares hit record in countdown to Christmas

share with twitter share with LinkedIn share with facebook
share via e-mail
12/24/2019 | 08:40am EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

European stocks ground out fresh record gains on Tuesday in thin trading ahead of Christmas with investors optimistic about global growth heading into 2020 amid progress in U.S.-China trade talks.

In an early close for markets, the pan-European STOXX 600 index added 0.12% to touch an all-time high, while France's CAC 40 and Spain's IBEX 35 were little changed.

Domestically focused mid-cap shares in Britain outshone their European peers again with a 0.6% rise to hit a new record, while the blue-chip index clung to a five-month high. [.L]

With only a week left for 2019 to close, European shares are on course to log their best gains in a decade as two of the biggest risks to global growth - a prolonged Sino-U.S. trade war and a disorderly exit for Britain from the European Union - eased over the past few weeks.

Following the landslide Dec. 12 election victory for Prime Minister Boris Johnson's Conservatives, Britain now looks certain to leave the EU on Jan. 31 with a withdrawal deal that includes a transition period lasting until the end of 2020.

However, investors are concerned about the outcome next year of post-Brexit negotiations to establish the UK's future trade relationship with the EU, as Johnson's hard line could eventually raise the risk of no deal.

"Markets may look buoyant, but not all is what it seems," said Vishnu Varathan, senior economist at Mizuho Bank. "Uncertainty that hangs over the global economy has taken a back seat, but will not go silently into the night."

In thin corporate news, BMW said it was being investigated by the U.S. Securities and Exchange Commission over its sales reporting practices. But with the German stock index closed for the Christmas holidays, any impact on the automaker's shares will only be evident on Friday.

Shares in BBVA slipped 0.6% after Reuters reported the European Central Bank had asked Spain's High Court to provide information about an investigation into a spying case involving the lender.

Italian and Swiss markets were also shut on Tuesday. Most European stock markets will remain closed on Dec. 25 and Dec. 26 for Christmas and Boxing Day.

By Sruthi Shankar

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. -0.15% 2.9155 End-of-day quote.-41.49%
BMW AG 1.08% 44.865 Delayed Quote.-39.32%
CAC 40 0.33% 4220.96 Real-time Quote.-26.46%
EURO / BRITISH POUND (EUR/GBP) -1.06% 0.87513 Delayed Quote.5.44%
EURO STOXX 50 0.31% 2688.49 Delayed Quote.-25.59%
IBEX 35 -0.08% 6574.1 End-of-day quote.0.00%
STOXX EUROPE 600 0.42% 312.08 Delayed Quote.-23.03%
STOXX EUROPE 600 NR 0.44% 677.84 Delayed Quote.-22.57%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Markets"
12:53pLONDON STOCK EXCHANGE : Oil surge drags FTSE 100 out of losses amid virus worries
RE
12:27pEUROPE : European stocks scrape out gains as surging oil prices offset virus woes
RE
09:50aWALL STREET STOCK EXCHANGE : U.S. Stocks Falter, Oil Surges
DJ
06:22aU.S. Stock Futures Rebound, Oil Surges
DJ
05:32aU.S. Stock Futures Rebound, Oil Surges
DJ
04:13aGlobal Stocks Steady After Selloff, Oil Leaps 10%
DJ
04/01WALL STREET STOCK EXCHANGE : Stocks Close Down 4% as Second Quarter Starts With More Losses
DJ
04/01WALL STREET STOCK EXCHANGE : Stocks Close Down 4% as Second Quarter Starts With More Losses
DJ
04/01WALL STREET STOCK EXCHANGE : Stocks Fall 5% as Second Quarter Starts With More Losses
DJ
04/01WALL STREET STOCK EXCHANGE : U.S. Stocks Fall as Second Quarter Starts With More Losses
DJ
Latest news "Markets"