European stocks experienced problems on Friday. Despite the fact that the region’s main index headed for a near 3% gain for November. Equities in Europe benefited from record highs from across the ocean in the U.S.
The Stoxx Europe 600 was able to deal with the problem during early trading to trade flat at 409.08. It is important to mention that on Thursday, the Stoxx 600 index declined by 0.1%. Despite this loss, the index is still on track to post a 1.3% gain this week. The Stoxx 600 index increased by around 20% from the beginning of the year. This would be the best annual gain since 2013. The major factor which helped the Pan-European index is the interest. Investors are willing to invest in European stocks.
The German DAX index declined by 0.2%. Meanwhile, the French CAC 40 index was flat at 5814.88. The U.K.’s FTSE 100 index was also flat at 7419.11.
U.S. and Asian stocks
November 28 was one of the most important public holidays in U.S. Markets were closed on Thursday. Moreover, on Friday activity on the market is also lower than usual due to several reasons. Markets will close earlier today. Both the New York Stock Exchange and the Nasdaq will close at 1 p.m. Eastern.
It makes sense as most people are either out of town ahead of the long holiday weekend. Trading volumes on the days around Thanksgiving are declining as people are preparing for this holiday.
Based on the information, trading on the New York Stock Exchange was 11.4% lower than during the average day. NYSE is not alone when it comes to decreased activities during the holidays. Trading volumes on the Nasdaq were 14.5% lower.
In Asia, markets also experienced problems but for another reason. Several days ago, U.S. President Donald Trump signed into law two bills, which may affect the future of trade war.
Leave a Comment