3rd January 2017
Over a shortened holiday week characterised by subdued trading volumes global equity indices were mixed.
With little in the way of economic data releases to direct markets, the Dow Jones, having traded within 19 points of the 20,000 level on Tuesday (27 December 2016), slipped back over the remainder of the week.
In Europe, the pan-European Euro Stoxx 600 index registered its highest close since 31 December 2015 on Wednesday (28 December 2016) at 361.53. Despite slipping back slightly to 361.42, it ended the week up 0.40%, but ended the year down 1.20%. The larger-cap Euro Stoxx 50 index ended the week 0.51% firmer and the year 0.70% higher.
Meanwhile, the Japanese Topix index ended the week 1.63% and the year 1.85% lower.
The FTSE-100 ended the week and the year as one of the best performing global markets in 2016, up 1.06% and 14.43% respectively thanks to a decline in the value of the pound which helped shares in exporters and commodity stocks.
Ian Copelin, Investment Management Expert*
*Ian Copelin is an Investment Director at Wealth at Work Limited which is a member of the Wealth at Work group of companies