European stocks are poised for a positive start on Thursday as global markets seek new record highs to conclude the year. The UK’s FTSE 100 is anticipated to rise by around 25 points to 7,750, Germany’s DAX is expected to gain approximately 42 points to reach 16,784, and France’s CAC 40 is likely to add around 25 points to 7,597, according to IG data.
The pan-European Stoxx 600 index concluded Wednesday’s session with an increase of about 0.3%, reaching 478.62, not far below its record closing high of 483.44 achieved in November 2021.
In the United States, U.S. stock futures showed little change in early premarket trade after another day of modest gains on Wall Street. The S&P 500 benchmark is also closing in on a record high.
Across Asia-Pacific, most markets experienced gains overnight, with mainland China and Hong Kong leading the way, and Australia’s S&P/ASX 200 hovering near a two-year high. However, Japan’s Nikkei 225 and Topix bucked the trend, posting slight declines.
As the trading year concludes, thin trading volumes are expected during the last two days, with fewer data points on the economic calendar and all major central bank meetings already concluded.
The positive sentiment in global markets reflects the ongoing search for new record highs, driven by optimism about economic recovery, progress in the fight against the COVID-19 pandemic, and accommodative central bank policies. Investors are keeping a close eye on any developments that could influence market dynamics as they navigate the final days of the year.
