Global equity, still pondering Monday’s profits, had to settle for a peaceful Thanksgiving on Thursday.
In many directionless sessions, either in volume or movement, non-US stocks did not post a notable performance. IG Chief Market Analyst Chris Beauchamp commented on a quiet day.
“This year, they’ll probably be grateful for the rest of the day after the madness of 2020 and all the volatility that comes with it. November wasn’t quiet at all either. The stock market has found a springboard for a new rally thanks to elections and vaccine news.”
“The rally has cooled this week, and the index has drifted from recent highs, but there was no real conviction.”
“If there’s no (most) tomorrow (most) tomorrow, we’re looking forward to more drift, especially as investors look forward to an increase in December.”
As the final bell rang, the eurozone index was wide and flat, with CAC and DAX down by 0.081% and 0.024%. Similarly, FTSE was a rather peaceful day, but a 1% drop in Brent’s crude weighed on oil stocks, resulting in a 0.44% drop in the UK index. At 6,362 points, the UK’s top equity is now sitting around 10 points ahead of where they started the week.
Friday could be pretty much the same for global stocks, but the impact of UK loose lockdown restrictions could provide optimistic optimism for hospitality and travel stocks.
