European stocks ends a volatile year in green
Updated: 2011-12-31 14:25
PARIS - Stocks across Europe gained ground in the last trading session of 2011 during which markets have been battered by eurozone debt crisis and global scanty growth.
At the closing bell of an anemic session, the French main index CAC 40 rose by 1.03 percent to 3,159 points with a poor volume at 1.23 billion euros ($1.59 billion) as investors were away for the Christmas and New Year's holidays. As to its yearly performance, the French index recorded the worst result since 2008.
Since January, Paris bourse fell by 16.95 percent, led down by 46-percent shrunk in the banking sector which dominates the stock market's top flight as worries on its exposure to debt ridden-countries kept investors on edge.
In London, FTSE 100 grew by 0.10 percent in the day but decreased by 5.55 percent in 2011. DAX Xetra of Frankfurt rose by 0.85 percent. The index lost 14.7 percent for the whole year of 2011.
Already under pressure to boost their financial indicators, Milan and Madrid markets ended high by 1.22 percent and 0.92 percent respectively.
The index of the eurozone, Euro Stoxx 50 was up by 1.06 percent to 2,316 points.
"Since summer, stocks have been hardly hit by concerns over sovereign debt and the threat of recession. All the markets have plunged, but southern ones suffered more after being mired in high deficit and slowing economy," Anne-Charlotte Com analyst from Aurel BGC told Xinhua.
"I think 2012 won't be easy as sovereign debt crisis is expected to still shadow markets where investors would wait for further concrete and clear political measures," she added.