What a start to the year for European stock markets.
Closing changes on the day:
- Stoxx 600 +0.5%
- German Dax +0.2%
- France’s CAC +0.7%
- UK’s FTSE 100 +0.7%
- Spain’s Ibex +0.6%
- Italy’s FTSE MIB +0.2%
On the week:
- Stoxx 600 +1.9%
- German Dax +3.4%
- France’s CAC +2.4%
- UK’s FTSE 100 +1.9%
- Spain’s Ibex +2.1%
- Italy’s FTSE MIB +2.4%
The year-to-date gains are now above 8% in Europe, which is surely better annual performance than 99% of European hedge funds over the past decade.
I see this move as a roundtrip from the worries about natural gas supply that started in Aug/Sept. Does it deserve another lift beyond that?