Markets

Slight price gains on Europe’s stock exchanges

D.he European stock markets rose somewhat on Christmas Eve. The Euro Stoxx 50, the leading index in the Eurozone, was 0.15 percent higher on Thursday morning at 3544 points. In Paris, the Cac 40 rose 0.13 percent to 5534 points. The London FTSE 100 climbed 0.11 percent to 6503 points. There is only a shortened trade in London and Paris. The stock exchanges in Frankfurt and Rome will remain closed.

The shares were somewhat supported by the emerging agreement between the European Union (EU) and Great Britain. A week before the end of the Brexit transition phase, the negotiators put the finishing touches on a comprehensive trade agreement. Last details were also unclear on Thursday morning, as it was said from negotiating circles in Brussels. Nevertheless, a deal was still expected on Christmas Eve.

The major Dutch bank ING achieved the most significant price gains. The share gained 1.76 percent. The Irish gaming operator Flutter posted the biggest losses. The share fell 1.88 percent.

Overall, however, the price fluctuations were limited. Most market participants had previously closed their books for 2022. Only a few investors still use the opportunity to adjust some securities account positions.

Pound gains

The emerging agreement in trade talks between the European Union (EU) and the UK supported the euro and pound on Thursday. The euro was $ 1.22 in London that morning. That night it was still below the $ 1.22 mark. The European Central Bank (ECB) set the reference rate on Wednesday at 1.21 (Tuesday: 1.22) dollars.

After an extensive agreement on key points of the planned Brexit trade pact, the final negotiations between the EU and Great Britain are still ongoing. Even if details are apparently still unclear, an agreement is still expected on Christmas Eve.

The pound sterling rose more clearly than the euro. It rose against all major currencies. According to economists, the British economy would benefit even more from a contract than the EU. Without an agreement, Great Britain would leave the European single market without a trade agreement at the turn of the year.

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