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European stocks retreat in thin trading, set to end 2020 with losses

Published 12/31/2020, 04:31 PM
Updated 12/31/2020, 04:40 PM
© Reuters.
UK100
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FCHI
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DE40
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IT40
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PERP
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AIR
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RCOP
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SAF
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STOXX
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Dec 31 (Reuters) - European stocks retreated on Thursday as
investors squared positions on the last trading day of the year,
while wider coronavirus lockdowns in Britain and news that the
United States had raised tariffs on some EU products dampened
sentiment.
Trading volumes were thin, with many traders away on New
Year's Eve and major European bourses closed.
The pan-European STOXX 600 .STOXX recorded a 3.8% drop in
2020 - lagging Asian and Wall Street equities that traded near
record highs - as a rapid surge in coronavirus cases, as well as
Brexit concerns weighed on the markets.
The German DAX .GDAXI ended 2020 with a 3.5% gain on
Wednesday and just below all-time highs, while Italy's FTSE MIB
.FTMIB was down 5.4% for the year.
In light trading, UK's FTSE 100 .FTSE fell 1.5% and
France's CAC 40 .FCHI dropped 0.7%. Both markets will close
early on Thursday.
London markets took a bigger blow as Prime Minister Boris
Johnson ordered millions more people to live under the strictest
COVID-19 restrictions to counter a new variant. France's Airbus AIR.PA , Safran SAF.PA and liquor makers
Pernod Ricard PERP.PA and Remy Cointreau RCOP.PA fell about
1% after the U.S. government said it would raise tariffs on EU
products including aircraft components and wines from France and
Germany, the latest twist in a 16-year battle over aircraft
subsidies between Washington and Brussels.

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