European stock exchanges crush the Oslo Stock Exchange

The collective index of European stock exchanges, the Stoxx 600, closed up 0.2 percent on Friday, thus recording the largest annual rise since the peak year in 2021, with an increase of 12.64 percent.

In comparison, the Oslo Stock Exchange ended the year up 9.89 percent.

The British stock market closed early on the last trading day of 2023 and underperformed other European indices, rising 3.8 percent this year. In Italy it rose Milan Stock Exchange 28 percent this year, while Spain IBEX 35 index rose 23 percent. In France, the Paris Stock Exchange rose by 16.4 percent.

For German DAX index (Frankfurt Stock Exchange), 2023 was the best year since 2019 with an increase of 20 percent.

Novo Nordisk is at the top

The only stock that rose the most on the Stoxx 600 index was… Novo Nordisk Which saw a sharp rise after the company launched new weight loss drugs. The Danish company saw an increase of about 48 percent in 2023. The pharmaceutical company was followed by the chip equipment manufacturer. ASML Holdings NVa German software company SAP C And the British lender HSBC HoldingsIndividual stocks on the European Composite Index recorded the largest increase in 2023.

Bank stocks outperformed the benchmark index

The retail, technology and construction sectors performed better than expected in 2023. Bank stocks outperformed the benchmark index with a 20 percent gain, after being hit hard by the Credit Suisse crisis and the subsequent sale of the major Swiss bank. The only sectors that saw a decline were food, drink, tobacco and basic resources, he wrote Bloomberg.

Although European stocks rose in 2023, they ended the year somewhat behind their American rivals. After better-than-expected economic development in the United States and progress in the field of artificial intelligence, the S&P 500 is on track to rise by 24 percent this year, while the Dow Jones is on track to rise by 13.54 percent and the Nasdaq to rise by 13.54 percent. A whopping 44 percent.