Europe's STOXX 600 index ended its first weekly advance in three weeks, fueled by gains in healthcare and financial shares. The pan-European benchmark closed 0.7% higher, reaching its highest level in a week. Trading volumes remained below average due to the holiday-shortened week. Most European bourses also closed higher, with Germany's DAX, France's CAC 40, and Britain's FTSE 100 all posting gains.
Dec 27 - Europe's STOXX 600 index clocked its first weekly advance in three on Friday, boosted by advancing healthcare and financial shares, capping off a holiday-shortened week.
"We're coming out of a Christmas holiday, and trading volumes are extremely weak. We cannot really draw conclusions about what we see these days," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Despite the STOXX 600 scaling all-time highs earlier this year, its overall gain for 2024 stands at a modest 5.2%. A mix of geopolitical tensions, a sluggish Chinese recovery, and a lacklustre domestic economic outlook have contributed to the slow momentum.
"The continent is kind of in the crisis mode right now, compared to their U.S. peers, which are rather in a rally and euphoria mode."
STOCK MARKET EUROPE ECONOMY STOXX 600 FINANCIAL SHARES HEALTHCARE
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