Still mulling over Monday’s gains, global equities had to settle for an uneventful Thanksgiving Thursday, as US traders busied themselves with carving turkey.
In a directionless session, lacking much in the way of either volume or movement, non-US stocks didn’t post any performances worth noting, with any developments likely to be reversed once the Dow gets into full swing from next Monday. Commenting on the quiet day, IG Chief Market Analyst, Chris Beauchamp, said:
“Perhaps this year they will be thankful for the rest after the craziness of 2020 and all the volatility that has come with it. November has not been exactly quiet either, with stock markets finding their springboard to a fresh rally thanks to the election and vaccine news.”
“That rally has cooled this week, leaving indices to drift back from their recent highs but without any real conviction.”
“Without the US today and (mostly) tomorrow we can look forward to more drift, especially since investors are expecting more gains in December.”
As the final bell rang, Eurozone indexes were broadly flat, with the CAC and DAX down by 0.081% and 0.024% apiece. Likewise, the FTSE had a fairly uneventful day, though the 1% drop in Brent Crude weighed on oil stocks, and saw the UK index shed 0.44%. Now at 6,362 points, it the top British equities now sit around 10 points ahead of where they began the week.
Friday will likely be much of the same for global equities, though the effects of the UK’s loosening lockdown restrictions may provide some optimism for hospitality and travel stocks – provided case numbers don’t rise fast enough to inspire another full-scale lockdown in the new year.