Amsterdam: European stocks were quiet on Wednesday after closing at a new record high in the previous session, with trading volumes remaining thin in a shortened session due to the holiday season. The pan-European STOXX 600 index was flat at 588.93 points at 08:09 GMT, having hit consecutive record highs this week. Trading volumes were expected to be thin as several markets were closed or operating on reduced hours for Christmas Eve.
According to Yemen News Agency, stock exchanges in Amsterdam, Brussels, and Paris were holding half-day trading sessions, while those in Germany and Milan were closed. The STOXX 600 reached a historic high on Tuesday, driven primarily by strong performances in healthcare stocks after pharmaceutical giant Novo Nordisk received significant U.S. approval for a weight-loss pill.
Market sentiment received a further boost after U.S. data showed the American economy grew at a much faster pace than expected in the third quarter. On Wednesday, commodity-related stocks provided support, with energy shares rising 0.4 percent after oil prices climbed for the sixth consecutive session.
BP shares rose 1 percent after the company agreed to sell a 65 percent stake in Castrol to Stonepeak Investment for approximately $6 billion.