European stocks are experiencing their worst year since 2018 (Getty)
European stocks closed lower in the last trading days in a difficult year, which witnessed geopolitical tensions and recession fears as central banks raised interest rates, but stocks in London performed better than their counterparts on the continent as a result of the great exposure. for primary commodities.
The Stoxx 600 index fell 1.3%, in thin trading on Friday, as the rise in cases of Covid-19 in China fueled concerns regarding global economic growth. The general index of European shares has lost 12.9% this year, its worst performance since 2018.
The general index of European stocks was affected by the indices of the industrial and banking sectors, while the index of shares of technology companies fell 1.8%, giving up some of the large gains achieved in the last session.
The luxury goods sector with exposure to China declined, 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 technology stocks, supported by a rebound Wall Streetfollowing the US unemployment data calmed concerns regarding the… Critical stress cycle by the Federal Reserve Board. The European Stoxx 600 index reduced the year’s losses to approximately 12%, before it deepened once more in Friday’s trading.
other markets
In London, the British FTSE 100 index closed down 0.8%, with trading hours cut in half today, Friday, while the German stock index, in Europe’s largest economy, recorded an annual loss of 12.3%, its worst annual loss since 2018.
In Seoul, Korean shares fell by regarding 2 percent in the last trading sessions of the year, which ended in the red for the first time in four years, and the main index recorded the worst annual performance since 2008, following losing nearly a quarter of its value.
The South Korean Composite Stock Price Index (Cosby) 1.93% to 2236.40 points by the end of the session, marking the lowest closing level since October 25.
And in Moscow, rose Russian ruble In the last trading session of the year today, Friday, by 4%, but it remained on its way to recording strong losses in December, following the dominance of fears regarding the impact of the imposition of a price ceiling by the West. Russian oil on Russian export earnings.
The ruble has lost regarding 11% of its value once morest the dollar, since the Russian oil price ceiling came into effect early this month, despite analysts indicating that the technical impact will become more tangible in the new year.
And following the ruble fell to a record level once morest the dollar in March, recording 120, with the shock of Russia’s invasion of Ukraine, the Russian currency rose clearly, outperforming the performance of all major economies’ currencies, supported by restrictions on capital movements imposed by the Russian Central Bank, and a decline imports, and lost the lead only this month.
(Archyde.com, The New Arab)