LONDON – European indices are expected to fall on Friday during the last trading session of 2021.
The UK FTSE 100 is expected to fall 30 points to 7,374, the German DAX 84 points to 15,823 and the French CAC 29 points to 7,140. Markets will close at lunchtime on Friday due to the New Years celebrations. and the Swiss SMI and the Italian FTSE MIB will be closed all day.
Global investors were looking for a Santa rally to close a year of strong returns. The FTSE and DAX are on track to register 15% gains for this year, while the French CAC is close to a 30% gain.
Historically, many landmarks have won during the Santa Claus rally – the last five trading days of the current year and the first two of the new year. The period began on Monday.
On Wall Street, stock futures were down slightly on Thursday night before the last trading day of 2021. In Asia, Hong Kong stocks led gains among major markets on Friday, with Chinese tech stocks in the city. flying away.
Market players have spent the past few weeks juggling concerns over new Covid restrictions and tighter central bank policy, with early studies suggesting the omicron strain of the virus is milder than previous variants like delta. New studies in South Africa and the UK last week suggested that omicron had a reduced risk of hospitalization and serious illness.