The European stock markets have already closed trading for the penultimate month of 2024 and the general trend is falls. For European trading floors, November has been a complicated period, in which The outlook for the continent’s firms has darkened before Donald Trump’s victory in the US elections. He fear An increase in tariffs for European products has led the indices of the Old Continent to end the month in negative territory, among them the Ibex 35, which despite having fought against this current of falls, closes the month with a decrease of 0.27% and at 11,641 points, dragged down by the 0.13% falls of this last week.
For the European benchmark, the EuroStoxx 50, this is the second consecutive month with falls, after having recorded its worst monthly close in October in 2024. This month, the continental index finally lost 0.5% on the stock market, leaving its annual price at 6.3% annual increase. This has led to the gap, in favor of the Spanish reference, widening to the highest level of the year until reaching 10 points, although in the last session of November it was limited to nine points.
However, the European reference is not the most affected by Trump’s tariff promises, which announced this week a 25% tax on all products imported from Mexico and Canada, and 10% for China. The Italian FTSE Mib takes the title of most bearish of the month, falling 2.5% in the monthly calculationthis week it has lost 0.2%. Meanwhile, the Cac 40 is experiencing another month of decline in its price, in this case of 1.6%, which has worsened with the 0.3% weekly decline.
In his case, not only is the drop in French exports to the United States of concern, the political uncertainty surrounding the Paris Assembly is increasing due to the impossibility of approving the budgets, and promises curveballs due to the possibility of a change of Government. At an annual level, with one month left until the end of the year, the French index plummets by 5%.
Although not everything is colored of red in European equities, since two selective ones manage to close with other measures, this is the case of the British selective and the German one, which close the month with increases of over 2%. The FTSE 100 rises 2% in this period, investors have seen profit opportunities on the shores of the United Kingdom with the return of Trump to the White House. Although the London stock market led the gains for much of the month, The Dax managed to overtake it and recorded a 3% increase in this period.
And if in the photograph of the European market highlights the color redsince increases prevail on Wall Street in a month of electoral euphoria. This week has been anomalous for the US stock markets, since on Thursday they remained closed, on Friday they only opened for half a day for the Thanksgiving holiday. Still, even though the stock market euphoria seemed to have run out on Wednesday, the main indices of the Big Apple They end the week with increases thanks to the increases in the Black Friday, that add to the bright month for your quote.
The S&P 500 rises 0.56%, on a monthly basis it achieves a rise of 5.7%, its largest rise in a month in the entire year 2024. In addition, closes above the psychological barrier of 6,000 pointslevels that it managed to touch and surpass due to the Republican victory, although it failed to renew its historical highs: 6,021 points. Meanwhile, the Nasdaq 100which had been punished this week by its technology firms, rose 0.7% in recent days, while it recorded 5% in the entire electoral month. There is only one month left on the calendar until the end of 2024, given this the US benchmark is up 26.5% and the technology index is up 24.4%.
On a monthly level, the party of investors was led by the Russell 2000, the index of small caps American, which is the most bullish of the month, rising 10.5% in recent weeks. Along with the Dow Jones, which rose 7.5% in November and In the year it approaches 20% annual increase, with its 18.8%, reducing the distance with its counterparts with larger capitalization.
The most bullish and bearish
Despite the negative closing of the Ibex 35, the Spanish stock market maintains an increase of over 15% annually, and the company that stands out the most is IAG, the firm has advanced 75% in the year, and has achieved a rebound in 25% in the last month. Iberia’s parent company amazed investors with its profits after taxes of 2,340 million euros, 8.8% higher year-on-year. This week it rose 5.4%, and was followed by Ferrovial and Cellnex, which recorded increases of 4.2% and 4%, respectively.
On the downside side, Grifols takes by far the worst blow on the stock market this week. Only in the last five days it has lost 18%, while during the month there has been a drop of 15%. But the declines of Mapfre and BBVA have also been important, these firms fell 6% and 3.7%, respectively, in the face of Trump’s threats of tariffs that we mentioned previously, as Mexico is one of their main markets. Instead, Rovi is the most bearish on a monthly basisafter having announced a reduction in profits due to the drop in its production for third parties and expecting more drops for 2025.
Trump’s victory has also resulted in a strengthening of the US dollar, given the prospects of a higher inflation in the region with the return of the president to the White House. In the month, the eurodollar exchange rate It plummeted by 4.3%, dropping below $1.04levels that had not been seen in two years, despite having started the month at 1.08 greenbacks, in favor of the European currency. Although, at the European close, the exchange rate remains at 1.05 dollars per euro. Regarding gold, it rises 1% this week, and recovers $2,654 per ounce, while the barrel of Brent appreciates 0.5% to $73.4.
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