European Markets End 2017 On A Sour Note

(RTTNews) - The majority of the European markets ended Friday's session with small losses. However, despite today's weak performance, many markets are ending the year with impressive gains.

One notable exception to today's overall weak trend was the FTSE 100 of the UK. The FTSE wrapped up its shortened session today with a solid increase, which drove the market to a new high for the year.

Overall trading volume remained thin ahead of the long holiday weekend. There were few catalysts to drive trading and many traders remain away from their desks after the Christmas holiday.

The pan-European Stoxx Europe 600 index weakened by 0.11 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.57 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.05 percent.

The DAX of Germany dropped 0.48 percent and the CAC 40 of France fell 0.50 percent. The FTSE 100 of the U.K. gained 0.85 percent, but the SMI of Switzerland finished lower by 0.25 percent.

Eurozone money supply grew at a slightly slower pace in November, the European Central Bank said Friday.

The broad monetary aggregate M3 grew 4.9 percent year-on-year in November, slower than the 5 percent increase seen in October. Economists had forecast a 4.9 percent rise.

A measure reflecting the current economic situation in euro area reached its highest level in more than eleven years in December, results of a survey by the Bank of Italy and the Centre for Economic Policy Research showed Friday.

The euro-coin indicator rose to 0.91 in December from 0.84 in November. This was the highest reading since May 2006.

Germany's inflation slowed less-than-expected in December and the annual average for 2017 was the highest in five years, preliminary data from the statistical office Destatis showed Friday.

The consumer price index rose 1.7 percent year-on-year following 1.8 percent increase in November. Economists had forecast 1.5 percent inflation.

Spain's consumer price inflation slowed more than expected in December, according to flash data from the statistical office INE, released Friday.

Inflation eased to 1.2 percent in December from 1.7 percent in November. This was the lowest rate since November 2016. Inflation was forecast to slow moderately to 1.5 percent.