The pan-European STOXX 600 index was up 0.3% near a two-week high by 0820 GMT as traders returned from their New Year holidays.
The benchmark suffered its worst quarterly drop in more than two years from October to December, weighed down by uncertainty around interest rates and the Trump administration’s policies that several market participants fear will boost inflation.
Still, the index clocked a roughly 6% gain in 2024, which was, overall, a positive year for stocks. The U.S. market, in particular, jumped to all-time highs due to optimism about the adoption of AI and the Federal Reserve’s interest rate cuts.
The STOXX 600, too, hit a record high last year.
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On the day, Vestas Wind Systems rose 5.5% after the Danish wind turbine maker said it received new orders in Italy. Sweden’s Intrum, Europe’s biggest debt collector, surged 16% after the U.S. bankruptcy court confirmed its Chapter 11 restructuring plan.
