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Investing.com – European markets opened slightly up in early Monday trading. At 1055 CET (955 GMT / 455 ET) the CAC 40 and the DAX were up .15%, while the Euro Stoxx 50 was down .2% and the IBEX 35 was up .4%. The FTSE 100 is closed today in observance of Christmas.
European stock markets and global markets in general are expected to have a quiet week due to the holiday period trading, and with many indices already closing at all-time or at least recent highs entering this week, it remains to be seen how much of a “Santa rally” is left to make.
Oil has traded off more than a percent in early trading, which may be the cause of Eni SpA (MI:ENI) being one of the biggest losers on the Eurostoxx 50, though it has pared losses and is only down .3%. Koninklijke Ahold Delhaize NV (AS:AD) was also down nearly 1% earlier though it has rallied to trade off only .35%. KONE Oyj (HE:KNEBV) and Bayer AG NA (DE:BAYGN) lead the index on the upside, up .9% and 1.1%, respectively.
Meanwhile all eyes are on airlines and travel companies to see how they hold up amidst concerns over flight cancellations around the globe. So far, International Consolidated Airlines Group S.A. (MC:ICAG) is up 1.2% via its Spanish listing, and Deutsche Lufthansa AG (DE:LHAG) is trading down .4%, and travel software provider Amadeus IT (MC:AMA) is up .7%. Melia Hotels (MC:MEL) is also among the leaders on the Ibex, up 1.6%, a sign that investors are looking past current disruptions to a light Omicron impact. U.S. airline stocks are trading off more, perhaps due to a more concentrated spate of cancellations.
Nel ASA (OL:NEL) is up 4.6% on news of winning two separate orders of $3M and $6M for its electrolysis and fueling stations.
Notable gainers in Europe include Stellantis NV (PA:STLA) and Fresenius SE & Co KGAA O.N. (DE:FREG), each up 1.2%; Covestro AG (DE:1COV), up 1%, Cellnex Telecom SA (MC:CLNX), up 2.5%, and Lonza Group AG (SIX:LONN), up 1.7%.
Notable market losers this morning include Worldline SA (PA:WLN), which is down 1.4%, Delivery Hero AG (DE:DHER), which is down 1%, BE Semiconductor Industries NV (AS:BESI), down 1.6%, Royal Dutch Shell (LON:RDSa) PLC Class A (AS:RDSa), down .9%, and STMicroelectronics NV (PA:STM), down 1.2%.
Asian stock indices ended the day marginally lower, and U.S. stock futures are trading just above flat in early-hours trading. Bitcoin is up 1.5%, trading just above $50,000.
Read also: Inflation, Omicron, Rate Hikes: What To Expect From 2022
(Marco Oerhl contributed to this report).
(Published at 10:21 CET, updated at 10:59 CET)
