European stock exchanges about to close the best month in their history
The European indices are about to close the best month in their history today with accumulated increases of double digits, despite the bearish opening this morning, in line with Wall Street futures. The main European stock exchanges have registered a historic month in November, encouraged by good news in the advances of vaccines against Covid-19 and by the perspective that the economic recovery is getting closer and closer.
However, everything points to the fact that in the coming days there could be a collection of profits by investors while waiting for the decisions adopted by both the United States Federal Reserve and the European Central Bank (ECB) in Europe regarding new stimuli. The market is also awaiting the final outcome on Brexit.
The index that has appreciated the most this month is:
- Spanish IBEX 35, with an increase of more than 26%
This was followed by:
- Italian FTSE MIB with an advance of 24%
- French CAC 40, with an increase of more than 21%
- German DAX, more than 15% up
- FTSE 100, with an increase of more than 14%
Despite these significant rises, European indices still have some way to go to outrun losses for the whole of 2020. Only the DAX 30 is already trading above the close of 2019. Take, for example, the FTSE 100:
Source: Admiral Markets MetaTrader 5. FTSE 100 CFD daily chart. Data range: October 24, 2019, to November 30, 2020. Prepared on November 30, 2020, at 12 noon CET. Keep in mind that past returns do not guarantee future returns.
November has not only been good for the European markets, but the Wall Street indices will also close November with gains above 10%. In addition, the Dow Jones exceeded 30,000 points for the first time in its history last week.
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