LONDON – European markets closed on Thursday, the last trading day of a year dominated by the coronavirus pandemic and exceptional stimulus measures that sought to mitigate the economic impact of the health crisis.
The pan-European Stoxx 600 index closed 0.14% lower on New Year’s Eve after a shorter trading session. The London FTSE index closed 1.45% lower on the last day the UK is de facto a member of the EU’s internal market and customs union, before Brexit was finally implemented.
UK banks, retailers and construction companies were among the stocks that traded lower on Thursday. Sentiment has likely been influenced by both the uncertainty surrounding Brexit and further restrictions on public life announced by the UK government on Wednesday due to the rate of coronavirus infections.
The Stoxx 600 index closed 3.8% year-to-date, but rose nearly 11% in the quarter. For the individual indices, the FTSE had fallen by over 14% since the beginning of the year, making it the worst year since 2008.
The French CAC 40 fell 7%, the German DAX 3.5% and the Italian FTSE MIB 5.4%. The worst performing market in the region was the Spanish IBEX, which fell nearly 15% this year.
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Nearly all European markets ended 2020 bleakly after year-end trading in Asia was weak and US stock futures were largely unchanged early Thursday morning. Markets in Europe closed early Thursday at 1 p.m. London time.
