Rolling coverage of the latest economic and financial news, on the final trading day before Christmas
- Latest: UK stocks close at new peak
- Europe’s Stoxx 600 hits record high
- Introduction: Gold rallies in pre-Christmas trading
- Analyst: Gold could keep rallying in 2020
- Trade war jitters haven’t gone away
Time for a quick recap, as City traders dash home for Christmas (or possibly to the shops for a last-minute gift).
The traditional Santa Rally has lifted stocks across Europe today, on the final session before the Christmas holidays.
The prospect of a Phase One trade deal between the US and China may have lifted markets this year….but there’s less optimism that a fuller deal will emerge soon.
As Vishnu Varathan of Mizuho Bank told clients:
“There are few reasons to believe that optimism about a broader or ‘Phase 2’ could emerge in the near term.”