European stocks stabilize near 9-month highs amid calm trading

Economies.com
2020-11-26 12:06PM UTC

European stocks stabilized in early trading on Thursday, range bounded near the 9-month high that was hit in the previous session, amid calm trading due to the Thanksgiving holiday in the US.

 

The Stoxx Europe 600 index rose less than 0.1% as of 11:20 GMT, after it closed lower by 0.25% yesterday on profit-taking from the highest since February of 393.68 points.

 

The pan European index opened slightly higher today, in a holiday-thin trade, with most of the major European markets and sectors seeing mixed performance.

 

European stocks gained 1% so far during this week, on the cusp of the fourth straight weekly gain, thanks to positive results of the Covid-19 vaccines.

 

Sentiment was also lifted after concerns about a smooth transition of power in the US  eased following the US President-elect Joe Biden's welcoming the outgoing President Donald Trump's decision to take the necessary measures to transfer power.

 

S&P 500 index closed lower by 0.2% yesterday on Wall Street, and posted its first loss in three sessions on profit-taking.

 

Back to Europe, the Euro Stoxx 50 index rose 0.1%, France's CAC 40 fell  0.1%, and Germany's DAX rose less than 0.1%. 

 

While the UK's FTSE 100 fell 0.5%, as investors await further updates on the upcoming trade talks between Britain and the European Union this week.

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