European stocks rise slightly on last trading day of 2024

From Investing.com: 2024-12-31 04:45:02

European stock markets edged higher on the final trading session of the year, with the CAC 40 in France up 0.3% and the FTSE in the U.K. up 0.2%. Trading volumes were limited, with bourses in Italy and Switzerland closed for New Year’s Eve.

European indices have struggled in the final quarter, with the S&P 500 up 24% compared to the pan-European STOXX 600’s 5.4%. German stocks have outperformed with a 19% jump, while the UK’s FTSE 100 is up 5% and the CAC 40 is down 3%.

Eurozone manufacturing PMI data is set for release on Thursday, with expectations for continued contraction in the sector. The ECB has already cut interest rates and signaled more cuts ahead as economic growth stagnates in the region.

Crude prices rose on signs of growth in Chinese manufacturing activity, with US crude futures up 0.7% to $71.47 a barrel. China’s PMI expanded in December, providing support for oil demand amidst concerns of oversupply.

Despite the boost from Chinese growth, Brent crude is on track for a 3% loss in 2024, while WTI remains largely unchanged for the year.



Read more at Investing.com: European stocks edge higher on final trading session of 2024 By Investing.com