by Daniel Shvartsman
Investing.com - European markets opened slightly lower in early Monday trading. At 1015 CET (915 GMT / 415 ET) the CAC 40 and the DAX were flat, while the Euro Stoxx 50 was down .3% and the IBEX 35 was up .3%. The FTSE 100 is closed today in observance of Christmas.
European stock markets and global markets in general are expected to have a quiet week due to the holiday period trading, and with many indices already closing at all-time or at least recent highs entering this week, it remains to be seen how much of a "Santa rally" is left to make.
Oil has traded off more than a percent in early trading, which may be the cause of Eni SpA (MI: ENI ) being one of the biggest losers on the Eurostoxx 50, down nearly 1%. Koninklijke Ahold Delhaize NV (AS: AD ) was also down nearly 1%. KONE Oyj (HE: KNEBV ) and Bayer AG NA (DE: BAYGN ) lead the index on the upside, with each up .8%.
Meanwhile all eyes are on airlines and travel companies to see how they hold up amidst concerns over flight cancellations around the globe. So far, International Consolidated Airlines Group S.A. (MC: ICAG ) is up 1.8% via its Spanish listing, and Deutsche Lufthansa AG (DE: LHAG ) is trading flat, and travel software provider Amadeus IT (MC: AMA ) is up .5%. Melia Hotels (MC: MEL ) is also among the leaders on the Ibex, up 1.5%, a sign that investors are looking past current disruptions to a light Omicron impact.
Nel ASA (OL: NEL ) is up 4.4% on news of winning two separate orders of $3M and $6M for its electrolysis and fueling stations.
Notable gainers in Europe include Stellantis NV (PA: STLA ) and Fresenius SE & Co KGAA O.N. (DE: FREG ), each up 1.2%; Covestro AG (DE: 1COV ), up 1%, Cellnex Telecom SA (MC: CLNX ), up 2.5%, and Lonza Group AG (SIX: LONN ), up 1.7%.
Notable market losers this morning include Worldline SA (PA: WLN ), which is down 1.4%, Delivery Hero AG (DE: DHER ), which is down 1%, BE Semiconductor Industries NV (AS: BESI ), down 1.6%, Royal Dutch Shell (LON: RDSa ) PLC Class A (AS: RDSa ), down .9%, and STMicroelectronics NV (PA: STM ), down 1.2%.
Asian stock indices ended the day marginally lower, and U.S. stock futures are trading just above flat in early-hours trading. Bitcoin is up 1.5%, trading just above $50,000.
(Marco Oerhl contributed to this report).
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.