Article content
(Bloomberg) — Equity markets in the UK and France edged higher in thin trading, leading the European benchmark to wrap up 2024 with modest gains.
Article content
The UK’s FTSE 100 and France’s CAC 40 Index rose 0.3% by 10:18 a.m. London time. Trading volumes were about 63% less than the 30-day average at this time of the day for the FTSE 100, and about 80% lower for the CAC 40, according to data compiled by Bloomberg. Bourses in Germany, Italy, Denmark, Switzerland and Finland were shut through the day.
Article content
Among individual movers, Wizz Air Holdings Plc rose after the airline operator said that it expects to return to growth in the full year 2026. Galp Energia SGPS shares dropped after the energy firm gave an update on its well in Namibia.
European equities have gained just 5.6% in 2024, well below the average 16% the index notched in every positive year since its launch in 1998, according to data compiled by Bloomberg. By contrast, the S&P 500 Index has surged 24% thanks to its heavier weighting in high-flying technology shares.
Concerns over potential trade tariffs by US President-elect Donald Trump have weighed on European equities with China exposure in particular. Political upheaval in France and Germany has also soured mood this year.
Morningstar strategist Michael Field remains optimistic about the outlook for European stocks in 2025.
“Things seem to be improving macroeconomically and I feel the expectations are quite low,” Field said by phone.
For more on equity markets:
- US Stock Futures Fall; Dave, Pfizer Fall
You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.
Share this article in your social network
