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Bansari Mayur Kamdar
Trading was light on Friday, down 0.5 %, spiked due to COVID-
case China raises concerns about global economic growth. The regional index is expected to close at the end of the year .2% down since
WORST PERFORMANCE. Chinese luxury companies such as LVMH and Hermes International (OTC: 600HESAF) down 1.0% and 1.9%.
industrials and banks weighed on the index, while technology stocks fell 0.9%, giving back some of the previous session’s gains. Rate-sensitive tech stocks followed gains on Wall Street peers on Thursday as U.S. jobless data suggested the Fed was aggressive in raising interest rates Higher interest rates may have begun to weaken the strength of the labor market. [.N]
Tech stocks have been among the worst performers this year, down %,main Central banks are raising interest rates around the world.
The European Central Bank slowed the pace of rate hikes earlier this month, but emphasized that policy tightening is still ahead A scheme to drain cash from the financial system.
“This is the beginning of a new era in which central banks will play a weaker role in the market and the liquidity that can be used to solve problems Will reduce – a Swissquote Bank senior analyst Ipek Ozkardeskaya said: ” Given that there is still a lot of cheap central bank liquidity waiting to be pulled back, the situation may not get better until it gets worse in the first quarter of next year. ”
Energy stocks have bucked the trend this year as crude oil prices rise due to tight supply due to war in Ukraine. [or]
SHARP(OTC code: 500SHCAY) Commodity-related gains and a weaker pound also helped UK exports re-emerge 500 FTSE Outperformed peers this year amid political and economic turmoil.
Britain’s longest reigning monarch passed away at and three prime ministers occupied Downing Street in the second half of the year, and the cost of living crisis worsened, sparking strikes and protests across Europe. (600L
)
FTSE fell 0.3% in half-day trading on Friday but was still set to close the year in the green. European stock indexes fell across the board in early trading, and Germany and Ireland also opened for half a day.
On optimism, data showed Spanish consumer prices rose in December 5.8%, the slowest annual gain this year, thanks to lower electricity prices compared with a year ago.
400400 Telecom Italia (BIT: 200 TLIT
) (TIM) fell 2.4% after Prime Minister Giorgia Meloni reiterated on Thursday that the government wanted Take control of the fixed network assets of the former telephone monopoly and safeguard employment levels.