European Markets Drift Higher as Holiday Week Trading Begins By Investing.com


by Daniel Shvartsman

Investing.com – European markets traded slightly higher in midday Monday trading. At 1200 CET (1100 GMT / 600 ET) the and the were up .1% and .2%, respectively, while the was down .1% and the was up .45%. The FTSE 100 is closed today in observance of Christmas.

European stock markets and global markets in general are expected to have a quiet week due to the holiday period trading, and with many indices already closing at all-time or at least recent highs , it remains to be seen how much of a “Santa rally” is left to make.

has more than a percent in early trading, though is slightly higher. Payment software provider Adyen NV (AS:) is up 1.7%, while food & beverage company Danone SA (PA:) is up 1.5%. On the down side, EssilorLuxottica SA (PA:) is down 1.1%, as is media company Vivendi SA (PA:).

Meanwhile all eyes are on airlines and travel companies to see how they hold up amidst concerns over flight cancellations around the globe. So far, International Consolidated Airlines Group S.A. (MC:) is up .6% via its Spanish listing, and Deutsche Lufthansa AG (DE:) is trading down .4%, and travel software provider Amadeus IT (MC:) is up .7%. Melia Hotels (MC:) is also among the leaders on the Ibex, up 1.6%, a sign that investors are looking past current disruptions to a light Omicron impact. U.S. airline stocks are trading off , perhaps due to a more concentrated spate of cancellations.

Nel ASA (OL:) is up 4.6% on news of winning two separate orders of $3M and $6M for its electrolysis and fueling stations.

Notable gainers in Europe include Stellantis NV (PA:) and Fresenius SE & Co KGAA O.N. (DE:), each up 1.2%; Covestro AG (DE:), up 1%, Cellnex Telecom SA (MC:), up 2.5%, and Lonza Group AG (SIX:), up 2.5%.

Notable market losers this morning include Worldline SA (PA:), which is down 1.8%, which is down 1%, BE Semiconductor Industries NV (AS:), down .6%, Royal Dutch Shell PLC Class A (AS:), down .6%, and STMicroelectronics NV (PA:), down 1%.

Asian stock indices ended the day marginally lower, and U.S. stock futures are trading just above flat in early-hours trading. is up 1.5%, trading just above $50,000.

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(Marco Oerhl contributed to this report).

(Published at 10:21 CET, updated at 10:59 CET and 12:10 CET)

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