European Stocks Close Notably Lower

European stocks ended the final session of calendar year 2020 on a weak note, as worries about rising coronavirus cases and tighter restrictions on movements outweighed positive such as the rollout of vaccines and a massive U.S. fiscal stimulus.

With several markets in the continent closed for New Year's Eve holiday, and major markets France and the U.K. closing early, volume of business was rather thin on Thursday.

The pan European Stoxx 600 drifted down 0.39%. The U.K.'s FTSE 100 ended down 1.45% and France's CAC 40 closed lower by 0.86%. Germany and Switzerland markets were closed for New Year's Eve. The FTSE 100 shed about 14% this year and the French benchmark lost a little over 7%, while Stoxx 600 slid 3.7%.

Among other markets in Europe, Belgium, Ireland, Netherlands, Portugal, Spain and Turkey ended with sharp to moderate losses, while Greece ended flat. All other markets in Europe were closed for New Year's Eve holiday.

In the UK market, IAG eased by about 4.5%. Diageo, DCC, Johnson Matthey, CRH, Intertek, British Land Company, British American Tobacco, BT Group, Admiral Group and Sainsbury J lost 2 to 4%.

On the other hand, Avast, Natwest Group, Pershing Square Holdings and Croda International moved up 1 to 1.4%.

In the French market, Safran, Technip, Pernod Ricard, Engie, Carrefour, Airbus Group and ArcelorMittal ended notably lower, while Kering, Societe Generale, BNP Paribas and Credit Agricole moved up.

Asian markets ended mixed today, while U.S. stocks are slightly weak.

Market Analysis