(Bloomberg) -- Equity markets in the UK and France rose in thin trading, leading the European benchmark to wrap up 2024 with modest gains.
The UK’s FTSE 100 gained 0.6% and France’s CAC 40 Index rose 0.9%. Both markets traded for a half session. Bourses in Germany, Italy, Denmark, Switzerland and Finland were shut through the day.
Among individual movers, Wizz Air Holdings Plc rose after the airline operator said that it expects to return to growth in the full year 2026. Galp Energia SGPS shares dropped after the energy firm gave an update on its well in Namibia.
European equities are up around 6% in 2024, well below the average 16% the index notched in every positive year since its launch in 1998, according to data compiled by Bloomberg. By contrast, the S&P 500 Index has surged 24% thanks to its heavier weighting in high-flying technology shares.
Concerns over potential trade tariffs by US President-elect Donald Trump have weighed on European equities with China exposure in particular. Political upheaval in France and Germany has also soured mood this year.
Morningstar strategist Michael Field remains optimistic about the outlook for European stocks in 2025.
“Things seem to be improving macroeconomically and I feel the expectations are quite low,” Field said by phone.
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