Defensives And Tech Lend Support To STOXX

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On the last full trading day of the year in Europe, investors are opting for a defensive allocation with sectors from pharma to tech keeping the STOXX 600 (.STOXX) index anchored above parity.

In early deals the pan-European equity benchmark moved between flat and a small gain, and was last up 0.1% with low pre-holiday volumes likely to result in another subdued session as the year end nears.

European shares look set for another quiet trading session with main regional benchmarks near or above recent peaks as investors head into 2022 on a cautiously confident mindset.

Futures on the euro STOXX 50, DAX, FTSE and IBEX indices were last trading between a gain and a fall of around 0.1%, following a subdued session in Asia and the 70th record high close this year for the S&P 500.

Omicron raced out of control and governments tried to contain its spread without paralysing fragile economies.
– Reuters

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