The week from the 25th to the 29th December saw volumes traded on the STOXX 600 45.2% below their 12 month average, with volatility down (Source: Datastream 1y measure of volatility). Over this muted week the STOXX 600 lost 0.3%. The top performing index over the week was the FTSE 100 (+1.25%), whilst the OMXS30 (-1.8%), the FTSE MIB (-1.6%) and the IBEX 35 (-1.4%) led the fallers.
UK indices supported by positive macroeconomic data
The FTSE 100 and FTSE 250 were the two best performing indices, up 1.25% and 1.2% respectively. The UK saw two different sets of positive economic released. Wages were up on an annual basis for the first time since 2015, according to search engine Adzuna’s study. Further, a CBI survey found that in the three months to December, British businesses reported a pickup in growth.
Political uncertainty on the continent
The Italian and Spanish main indices were impacted by negative macro news, as the FTSE MIB (-1.6%) and the IBEX 35 (-1.4%) counted amongst the largest fallers. In Italy, a general election was announced following the dissolution of parliament, with a “likely” hung parliament a cause for concern. In Spain, uncertainty in Catalonia remains, as Mariano Rajoy set a date for the Catalan parliament to hold its first session.
IWG top performer
London-listed IWG gained 28.6% through the week, top performer on the STOXX 600 on news of a takeover offer from Canada's Onex and Brookfield Asset Management.
Tech sector weakest performer through the final week of 2017
The best performing stock on the STOXX 600 over 2017, AMS, was the biggest faller over the week, down 8.9%. More widely, the best performing sector over the year, the STOXX Technology was the worst performer over the last week of 2017, down 1.3%.
- 05.01.2018: Eurozone flash inflation data December 2017
Top stocks by investor turnover
Nasdaq Advisory Services European Team Alexander Free
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