European Markets Rally on Final Trading Day of 2024: A Surprising Turnaround

In an unexpected twist, the British and French stock markets concluded the last trading session of 2024 on a high note, bouncing back from initial losses. This remarkable recovery came on a day marked by shorter trading hours, with both markets closing early in anticipation of New Year's celebrations. Notably, the German DAX and the Euro Stoxx 50 remained closed for the holiday, with all European markets scheduled to resume operations on January 2.

By 1:35 pm CET, the FTSE 100 had surged by 0.64%, buoyed by a 3.32% increase in Jd Sports Fashion PLC. Similarly, the CAC 40 witnessed a 0.92% rise by 2:05 pm CET, with Edenred SA leading the charge with a 2.88% climb.

Currency markets saw the euro holding steady against the dollar, trading at $1.03964 by 2:04 pm CET. In contrast, the pound experienced a slight decline of 0.12% against the dollar, settling at $1.25312.