PRESS ROOM
Energy and financial stocks lift European equities
Thursday 03rd December '20
The ongoing pandemic has hit European equities particularly hard as European indices generally have a higher weight in ‘old economy’ sectors like energy and financials compared to US indices. While US indices have reached new highs this year, largely due to the strength in the tech sector, European indices are still recouping their losses from earlier in the year. Having said that, November was an encouraging month for Europe with the Euro Stoxx 50 Index up around 18% (in EUR) as distressed sectors, like energy and financials, responded most positively to vaccine news.