European markets edged higher on Tuesday despite a lighter trading session ahead of the New Year holiday.
Pan-European Stoke 600 The index opened lower before edging higher, rising 0.13% in early trading.
london FTSE 100 Index and French CAC 40 Both opened lower before recovering to trade near the flat line. spanish International Business Exchange Trading volume was 0.2%, while the Netherlands AEX Index up 0.07%. European markets are expected to trade for half a day when they open today.
German, Swiss and Italian markets are closed today. All European markets will be closed on New Year’s Day before reopening on January 2.
best performing stocks Stoke 600 In the index, Finnish refining company Neste rose 2.9%, followed by Banca Monte dei Paschi di Siena, which rose 2.3%. The worst performer on the index was Portuguese energy company Galp Energia, which fell 4.7%.
European markets closed lower on Monday after the last full trading day of the year, but regional stock markets are set to rise slightly this year; the FTSE 100 index is up 4.75% so far this year, while Germany German DAX Index It outperformed the market, rising nearly 19%. France’s CAC 40 index has been plagued by ongoing political unrest and is down more than 3% so far this year.
Year-to-date, the Stoxx 600 is up about 5.5%, with the best-performing sectors being banks (up 25%), followed by telecoms (up 15.8%) and financial services, up nearly 15%.
Food and beverages, automotive and basic resources are the worst-performing sectors, with annual declines of around 12% in 2024.
Judging from the performance of the Stoxx 600 Index, the US S&P 500 Index has risen by about 24% this year.
Traders will once again focus on New York-listed Boeing Co. shares after a fatal crash of one of its planes in South Korea on Sunday.
Boeing shares fell about 2.2% on Monday. South Korean authorities will investigate the crash, which killed 179 people, to determine the exact cause.
The crashed Boeing 737-800 is one of the most commonly used aircraft in the world and has a good safety record.
U.S. stock futures edged lower ahead of the final trading day of 2024 after another prosperous year on Wall Street. Asia-Pacific markets fell overnight as China’s manufacturing growth fell short of expectations. Still, China’s benchmark CSI 300 index is still on track to end the year higher, ending three years of losses.
—CNBC’s Chloe Taylor contributed to this market report.
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