European equities head for year-end

European equities head for year-end

On Thursday, European equities went down in early deals, with company news as well as macro events scarce in holiday-thinned trade, while Britain's FTSE 100 kept to a record maximum.

The STOXX 600 index headed south 0.1%, blue chips STOXX50E went down 0.2%.

A soar in commodity prices kept backing the resources-heavy FTSE 100 that earned 0.1%. Europe's basic resources index appeared to be the best-performing sector, gaining 0.5%.

Tech equities SX8P extended last session's dips, when chipmakers were affected by worries over demand for Apple's iPhone X.

Evidently, the tech sector slumped 0.3% on the day, although it has soared more than 20%so far in 2017, thus becoming the standout performer in Europe.

Stocks in BT found themselves among the key top fallers, sliding 1.7% right after the telecoms stock traded ex-dividend. Meanwhile, volatile Steinhoff turned to be the top gainer, soaring 4%.

Germany's DAX as well as Italy's benchmark FTMIB demonstrated the best performance this year, earning respectively 13.8% and 15.4%.

 

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