European shares traded near-record high in thin holiday trade.
- European shares traded near-record highs ahead of the Christmas holiday.
- Markets expect easy monetary policy to keep a floor under European shares in 2020.
- U.S. stocks edged up overnight, with the S&P 500 and the Nasdaq Composite hitting record highs
On Tuesday, European shares traded near-record highs ahead of the Christmas holiday. Progress on the global economic outlook amid US-China trade talks boosted the shares.
The pan-European STOXX 600 index was nearly unchanged at 0813 GMT.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Britain’s FTSE 100 fell 0.2%, and Spain’s IBEX eased 0.4%.
Investor sentiment has received a boost going into the new year with the apparent easing of two of the biggest risks to global growth:
- The prolonged Sino-U.S. trade war and
- Brexit uncertainty
After nominal growth in the second and third quarters, the benchmark index is on course to end the year with its biggest annual gain in a decade.
Markets expect easy monetary policy to keep a floor under European shares in 2020.
Among individual movers, Spanish sausage casing company Viscofan fell 1.4%, while French oilfield services company TechnipFMC added 1.2%.
The major U.S. averages rose between 0.1% and 0.3%.
Bodycote shares advanced 1.5%. The provider of heat treatment and specialist thermal processing services has agreed to acquire Ellison Surface Technologies.
Greenfield infrastructure investor John Laing Group rose 0.5% when news broke out that it would invest A$51.5 million or about 28 million pounds in the East Rockingham Resource Recovery Facility in Perth, Australia.
Supermarket giant Tesco edged down slightly.
Gold mining firm Centamin gained 1.5% after it won approval to give its Canadian suitor Endeavour Mining more time to make a firm takeover offer.
The U.S. stocks
U.S. stocks edged up overnight, with the S&P 500 and the Nasdaq Composite hitting record highs after President Trump said an initial U.S.-China trade pact would be signed soon.
Also, China’s Finance Ministry announced plans to lower import tariffs on a range of products, including frozen pork, pharmaceuticals, and some high-tech components.
China has denied accusations of forced labor at a prison in Shanghai after a Christmas card sold at the company was reportedly found containing a message from an inmate.