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European Stock Market News and Updates Dec-31, 2021, By Forex Forum.
European stocks ended on a mixed note on Friday, the shortened last trading session of Year 2021, with investors largely making cautious moves amid a lack of triggers, and continuing to track updates about the surge in cases of the Omicron variant of the coronvirus.
Despite lingering concerns about the surge in the new variant of the virus, investors remain optimistic about the outlook for global economic growth.
Reports showing a continued expansion in China's manufacturing activity and a falster pace of acceleration in the service sector aided sentiment.
The pan European Stoxx 600 ended 0.15% down. The U.K.'s FTSE 100 declined 0.25% and Germany's DAX moved up 0.21%. Markets in France and Switzerland were closed for New Year Eve.
The FTSE 100 gained 14.5% in the year, while the DAX advanced 15.8%. France's CAC 40 surged up 29% in the year, and Switzerland's SMI gained about 20.3%. The Stoxx 600 added about 22% in the year.
In the UK market, Melrose Industries surged up nearly 2.5%. Fresnillo, Rentokil Initial and Pearson gained 1.3 to 1.7%.
Kingfisher declined more than 3%. Electrocomponents, National Grid, Bunzl, Royal Mail, Smith (DS), Pershing Square Holdings and Lloyds Banking Group shed 1 to 2.2%.
Source: markets.businessinsider.com/news/stocks
On the other hand, Tesla Inc. is poised to end its roller-coaster year with its first monthly decline since May as investors digest Chief Executive Officer Elon Musk's massive share sale, a recall affecting hundreds of thousands of electric vehicles and a shortage of some key parts.
The 6.5% slide through Thursday is hardly a disaster for Tesla, whose 52% year-to-date gain makes it one of the handful of companies in the world with a market value above $1 trillion. The shares pulled back from November's record high as Musk unloaded some of his stake, after conducting a Twitter poll on the idea and then saying he would sell 10% of his holdings.
Elsewhere, According to the folks at Bespoke investment group, the S&P 500 averages a 0.1% decline over the last two trading days of the yea since 1996, with a median decline of 0.3%. Drops are just as likely when the stock market has been up more than 10% for the year and 2% for the month of December heading into the last two days of the month, with the S&P 500 declining five out of eight times.
"While year-end has typically been a positive time of year for equities, the last two trading days of December have been an exception," write the folks at Bespoke Investment Group. "Even in years where the S&P 500 was already up sharply…the year still finished on a down note."
Not that it really matters. There's little connection between how the stock market ends one year and performs the next. The best thing we can all do is simply enjoy the New Year.
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