(Bloomberg) — European stocks gained on the first trading day of 2025, with energy stocks jumping as gas prices rose. Investor focus is on the outlook for Chinese economic growth and US trade policy.
The Stoxx Europe 600 Index advanced 0.6% by the close, with the energy subindex gaining the most since April as gas prices picked up following the expiration of the transit deal between Russia and Ukraine. Vestas Wind Systems A/S rose, with Sydbank describing the wind turbine maker’s orders in the US, Italy, France and Spain as “solid.”
Autos and luxury goods makers such as LVMH and Kering SA underperformed, as data showed China’s manufacturing activity slowed last month.
Europe’s benchmark stock index fell last month, trimming its yearly advance to 6%, amid concerns around economic growth and political uncertainty. Focus now turns to risks such as upcoming German elections and the possibility of US trade tariffs following President-elect Donald Trump’s inauguration.
“Re-balancing flows are over now, but we remain optimistic for European equities given the bearish consensus combined with a weak euro and relatively low bond yields in Europe,” said Ulrich Urbahn, head of multi-asset strategy and research at Berenberg. “This is a tactical opportunity until the German election.”
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Publish date : 2025-01-02 00:58:00
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