The FTSE 100 closed flat at 7,724 points, the CAC 40 slid 0.5% to 7,537 points, the DAX pulled back 0.2% to 16,706 and Stoxx 600 closed muted

FTSE and European markets failed to make any gains this session after a good start, but Wall Street jumped as global markets continue to rise to wrap up the year.

The FTSE 100 closed flat at 7,724 points, while the CAC 40 in Paris slid 0.5% to 7,537 points. In Germany, the DAX pulled back 0.2% to 16,706. Europe’s Stoxx 600 closed muted.

Trading volumes are expected to be thin during the final days of the trading year, with fewer data points on the economic calendar and all major central bank meetings out of the way.

On Wall Street, US stocks were up as investors digested a fresh look at the labour market that revealed a marginal rise in unemployment claims.

The Dow Jones added 0.1% to 37,695 points. The S&P 500 gained 0.2% to 4,784 points and the tech-heavy NASDAQ added 0.1% to 15,116.

The S&P 500 hovered neared an all-time high close of 4,796.56 for the second consecutive day.

In Asia, Tokyo’s Nikkei 225 lost 0.4% to 33,539 points, while the Hang Seng in Hong Kong outperformed Asian equities for the second day by gaining 2.52% to 17,044 points. The Shanghai Composite jumped 1.4% to 2,954 points.

Retail sales data from Japan showed a 5.3% growth in November.

In the meantime, the pound reached its highest level against the US dollar since the beginning of August before pulling back, as investors continue to bet on declining US interest rates in 2024.

The pound’s was lower against the dollar and at its highest point since August 10, with sterling trading at $1.2744. The sterling also dropped against the euro, trading at €1.1511.