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Jan. 3, 2022, 10:25 a.m. EST

Europe stocks attempt a fresh record high as 2022 trading gets underway

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By Barbara Kollmeyer

A fresh high eluded European stocks throughout the last few weeks of 2021, but the region’s main index came out swinging on Monday, tapping a new high for the first trading day of 2022.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +0.04% rose 0.4% to 489.78, but hitting a high of 491.43. The index last hit a record close on Nov. 17, 2021, of 489.95. It finished out 2021 with a gain of just over 22%, the biggest one-year percentage gain since 2019.

London stocks were closed for an extended New Year’s break, while Germany’s DAX /zigman2/quotes/210597999/delayed DX:DAX -0.45% surged 0.9% and the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.23% climbed 1%. Banks, food companies, autos and insurers were driving the positive action.

While COVID-19 cases sparked by the omicron variant continue to rip across Europe and the rest of the world, investor confidence that global economies can withstand the latest wave continued to drive markets higher, such as was seen in late 2021. Wall Street got off to a muted start, with gains for the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -1.20% , which took some wind out of Europe’s sails.

Airlines were also climbing, with demand high over the holiday season, even though COVID-triggered staffing shortages and weather issues triggered thousands of global cancellations on Sunday. Deutsche Lufthansa shares /zigman2/quotes/201210530/delayed XE:LHA -2.96% were among the best performers and Aeroports de Paris /zigman2/quotes/203616065/delayed FR:ADP +0.69% rose 4%.

Shares of Volvo /zigman2/quotes/230492310/delayed SE:VOLCAR.B +2.14% and Porsche Automobil /zigman2/quotes/202769371/delayed XE:PAH3 +0.03% were up 7% and 4%, respectively.

Stock in Iveco Group slumped 11% in the first day of trading after the maker of commercial and specialty vehicles split from CNH Industrial /zigman2/quotes/205520883/composite CNHI +0.97% .

Zurich Insurance /zigman2/quotes/208758696/delayed CH:ZURN +0.66% shares rose 1%. The Swiss insurer said its subsidiary Zurich Investments Life SpA agreed to sell its Italian life and pension back book to GamaLife in a deal that should release $1.2 billion in capital.

/zigman2/quotes/210599654/delayed
XX : STOXX
433.67
+0.19 +0.04%
Volume: 0.00
May 16, 2022 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,964.38
-63.55 -0.45%
Volume: 67,914
May 16, 2022 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,347.77
-14.91 -0.23%
Volume: 75,092
May 16, 2022 6:05p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,662.79
-142.21 -1.20%
Volume: 4.29M
May 16, 2022 5:16p
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/zigman2/quotes/201210530/delayed
XE : Germany: Xetra
6.70
-0.20 -2.96%
Volume: 7.38M
May 16, 2022 6:30p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€8.25 billion
Rev. per Employee
€186,285
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/zigman2/quotes/203616065/delayed
FR : France: Euronext Paris
131.85
+0.90 +0.69%
Volume: 37,252
May 16, 2022 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€12.96 billion
Rev. per Employee
€124,702
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/zigman2/quotes/230492310/delayed
add Add to watchlist SE:VOLCAR.B
SE : Sweden: Stockholm
kr 77.31
+1.62 +2.14%
Volume: 2.56M
May 16, 2022 5:29p
P/E Ratio
16.38
Dividend Yield
N/A
Market Cap
kr225.52 billion
Rev. per Employee
N/A
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/zigman2/quotes/202769371/delayed
XE : Germany: Xetra
75.28
+0.02 +0.03%
Volume: 555,790
May 16, 2022 6:30p
P/E Ratio
N/A
Dividend Yield
3.40%
Market Cap
€23.83 billion
Rev. per Employee
N/A
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/zigman2/quotes/205520883/composite
US : U.S.: NYSE
$ 14.52
+0.14 +0.97%
Volume: 2.68M
May 16, 2022 4:00p
P/E Ratio
11.97
Dividend Yield
1.93%
Market Cap
$19.47 billion
Rev. per Employee
$425,621
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/zigman2/quotes/208758696/delayed
CH : Switzerland: SWX
CHF 455.10
+3.00 +0.66%
Volume: 336,374
May 16, 2022 5:30p
P/E Ratio
14.35
Dividend Yield
4.47%
Market Cap
CHF68.10 billion
Rev. per Employee
N/A
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