LONDON – European indexes were mixed on Thursday morning as holiday-thinned trading continued in the region.
The pan-European Euro Stoxx 600 was flat in early deals, with major bourses pointing in different directions. Tech was the only real gainer with a rise of nearly 0.5%.
Global investors are looking for a Santa Claus rally to close out a year of solid returns. The FTSE and the DAX are on track to see gains of 15% for this year, while the French CAC is close to a 30% gain.
Historically, many benchmarks gain during the Santa Claus rally — the final five trading days of the current year and the first two of the new year. The period began Monday.
Shares in Asia-Pacific were mostly higher in Thursday trade, while U.S. stock index futures were little changed during overnight trading after the S&P 500 and Dow Jones Industrial Average closed at new records.
Market players have spent recent 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 U.K. last week suggested omicron has a reduced risk of hospitalization and severe illness.
In individual stocks news, shares of Siemens Gamesa rose 0.6% in early deals after reaching a supply deal for wind turbines in Sweden.