European stocks closed a choppy session firmly higher on Friday, benefiting from an improvement in global risk sentiment as markets assessed the impact of slowing business activity on European corporate giants. The Eurozone’s Stoxx 50 added 0.7% to close at 4,789, and the pan-European Stoxx 600 jumped 1.2% to close at 508. Tech shares led the gains, gaining traction after the opening of financial markets in the US with ASML, Adyen, and Infineon jumping between 3.2% and 1.7%. In turn, consumer cyclical stocks also advanced, with Stellantis rebounding from its poor momentum this week with a 3% rise, while LVMH and Hermes shares increased by 1.5% each. The developments were enough to offset pessimism from a slowing European economy, with PMI data showing that private sector activity in the Eurozone unexpectedly contracted in November. On the week, the Stoxx 50 closed broadly flat and the Stoxx 600 added 1%.
The main stock market index In the Euro Area (EU50) increased 269 points or 5.94% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Euro Area. Historically, the Euro Area Stock Market Index (EU50) reached an all time high of 5522.42 in March of 2000. Euro Area Stock Market Index (EU50) - data, forecasts, historical chart - was last updated on November 23 of 2024.
The main stock market index In the Euro Area (EU50) increased 269 points or 5.94% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Euro Area. The Euro Area Stock Market Index (EU50) is expected to trade at 4843.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4657.22 in 12 months time.