European stocks are having their worst year since 2018 (Getty)
European equities closed lower in final trading days in a challenging year that saw geopolitical tensions and recession fears as central banks raised interest rates, but London equities outperformed their counterparts in the mainland due to the large exposure. for primary goods.
The Stoxx 600 index fell 1.3% during lackluster trading on Friday as surging Covid-19 cases in China fueled concerns about world economic growth. The general index of European stocks lost 12.9% this year, the worst performance since 2018.
The general index of the European stock exchanges was affected by the indices of the industrial and banking sectors, while the index of shares of technology companies fell by 1.8%, giving up some of the substantial gains made in the last session.
The luxury goods sector with exposure to China was down, including LVMH, whose share fell by 0.7%, and “Ermis”, whose share fell by 1.4%.
European stocks ended Thursday’s trading higher, led by tech stocks supported by a rebound Wall Streetafter US unemployment data calmed worries about the… Critical stress cycle by the Federal Reserve Board. The European Stoxx 600 index trimmed the year’s losses to around 12% before escalating into trading again on Friday.
other markets
In London, Britain’s FTSE 100 index closed 0.8% lower on trading hours halved on Friday, while the German stock index, in Europe’s largest economy, posted a 12.3 year-on-year loss %, the worst annual loss since 2018.
In Seoul, the Korean stock fell about 2 percent in the last trading sessions of the year, closed in the red for the first time in four years, and the main index recorded its worst annual performance since 2008, after losing nearly a quarter of its value.
South Korea’s composite stock price index (Cosby) 1.93% to 2236.40 points by the end of the session, marking the lowest closing level since October 25th.
And in Moscow, pink Russian ruble In the last session of the year today, Friday, it was up 4%, but remained on track to post steep losses in December, after fears prevailed over the impact of the West imposing a price cap. Russian oil on Russian export earnings.
The ruble has lost about 11% of its value against the dollar since the Russian oil price ceiling went into effect earlier this month, despite analysts indicating the technical impact will become more tangible in the new year.
And after the ruble fell to a record high against the dollar in March, registering 120, in the shock of the Russian invasion of Ukraine, the Russian currency has risen sharply, outperforming the performance of all the currencies of the major economies, supported by restrictions on capital movements imposed by the Central Bank of Russia, and a drop in imports, losing its lead only this month.
(Reuters, The New Arab)
