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European stocks falter before the end of the year

31 Dec 2019 11:50 AM

European stocks seemed to end the decade with momentum today, but investors take profits after the record high, which was supported by optimism about the trade deal and easing fears of a global recession. In a brief session ahead of the New Year celebrations, the European STOXX 600 fell 0.3%.

French, British and Spanish indices fell between 0.4% and 0.8%, while the Frankfurt and Milan exchanges were closed at the end of the year.

Global stocks recorded multiple record highs in December, as investors welcomed progress in trade negotiations between the United States and China and signs that Britain was leaving the European Union more smoothly.

The upbeat mood, along with strong economic data and relatively loose monetary policy by the world's most influential central banks, put the key European index on the right track to achieve its biggest annual gain since the global financial crisis.

But with no exact details known about the first stage of the trade deal, analysts say doubts accumulate about how long the truce will last.