AIRLINK 196.38 Increased By ▲ 4.54 (2.37%)
BOP 10.11 Increased By ▲ 0.24 (2.43%)
CNERGY 7.75 Increased By ▲ 0.08 (1.04%)
FCCL 38.10 Increased By ▲ 0.24 (0.63%)
FFL 15.74 Decreased By ▼ -0.02 (-0.13%)
FLYNG 24.54 Decreased By ▼ -0.77 (-3.04%)
HUBC 130.38 Increased By ▲ 0.21 (0.16%)
HUMNL 13.73 Increased By ▲ 0.14 (1.03%)
KEL 4.60 Decreased By ▼ -0.07 (-1.5%)
KOSM 6.19 Decreased By ▼ -0.02 (-0.32%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 206.51 Decreased By ▼ -0.36 (-0.17%)
PACE 6.58 Increased By ▲ 0.02 (0.3%)
PAEL 39.77 Decreased By ▼ -0.78 (-1.92%)
PIAHCLA 17.20 Decreased By ▼ -0.39 (-2.22%)
PIBTL 7.99 Decreased By ▼ -0.08 (-0.99%)
POWER 9.20 Decreased By ▼ -0.04 (-0.43%)
PPL 178.91 Increased By ▲ 0.35 (0.2%)
PRL 38.93 Decreased By ▼ -0.15 (-0.38%)
PTC 24.31 Increased By ▲ 0.17 (0.7%)
SEARL 109.27 Increased By ▲ 1.42 (1.32%)
SILK 1.00 Increased By ▲ 0.03 (3.09%)
SSGC 37.75 Decreased By ▼ -1.36 (-3.48%)
SYM 18.83 Decreased By ▼ -0.29 (-1.52%)
TELE 8.53 Decreased By ▼ -0.07 (-0.81%)
TPLP 12.14 Decreased By ▼ -0.23 (-1.86%)
TRG 64.76 Decreased By ▼ -1.25 (-1.89%)
WAVESAPP 12.11 Decreased By ▼ -0.67 (-5.24%)
WTL 1.64 Decreased By ▼ -0.06 (-3.53%)
YOUW 3.87 Decreased By ▼ -0.08 (-2.03%)
BR100 12,000 Increased By 69.2 (0.58%)
BR30 35,548 Decreased By -112 (-0.31%)
KSE100 114,256 Increased By 1049.3 (0.93%)
KSE30 35,870 Increased By 304.3 (0.86%)

MILAN/FRANKFURT: European stocks ended a five-day winning streak on Wednesday as investors locked in recent gains, although positive vaccine and Brexit trends pointed to a stronger 2021 for regional markets.

The pan-European STOXX 600 edged 0.3% lower, still staying close to a 10-month high. The index is set to shed more than 3% this year, owing to disruptions caused by a second wave of coronavirus infections towards the end of the year.

But the signing of a Brexit deal, coupled with the rollout of a vaccine programme has made investors optimistic about a recovery in 2021.

“There are some things happening out there that suggests that risk appetite is strong,” said Russ Mould, investment director at AJ Bell.

“If you’re looking through to 2021, we’re hoping that the vaccines will begin to counteract the effect of the pandemic, and hopefully economic activity will begin to normalise.”

Travel and leisure stocks, one of the worst performing sectors this year, added 0.2%, as they stand to be among the top beneficiaries of a coronavirus vaccine.

German shares ended a shortened session about 0.3% lower, in their last trading day this year. But they added more than 3% in 2020, thanks to flows into heavyweight technology stocks.

Spanish lender Unicaja rose 2.1%, while Liberbank was down 4.1%, after they announced an all-in share deal that would create the country’s fifth-biggest bank.

The deal marks an acceleration of the sector’s consolidation after the approval of a merger between state-owned Bankia and Caixabank earlier this month.

The wider banking index fell 0.3% and is among the worst performing sectors this year alongside energy, as mounting bad loans due to the impact of the pandemic and record low interest rates hammered the appeal for the sector.—Reuters

Comments

Comments are closed.