Investors look ahead to 2018 on last trading day
Trade is expected to be relatively lighter than usual on Friday, with the session marking the last day of trade in 2017. Investors will now be looking ahead as to what 2018 will deliver in terms of market-moving events and key trends.
Looking overseas, U.S. stocks closed slightly higher, with the Dow Jones industrial average notching another record close Thursday: its seventy-first record close of the year. Meanwhile in Asian-Pacific trade, stocks showed a mixed to positive session, as investors monitored the latest moves in copper and the U.S. dollar.
Switching back to Europe, the U.K.’s FTSE 100 is expected to close early, at 12:30 p.m. London time, with Ireland closing shortly afterwards. Other indices such as the Euronext, IBEX and German DAX are expected to trade their normal hours.
In individual stock news, Volkswagen said that it would petition Germany’s constitutional court, to try and overturn the appointment of a special auditor to investigate the actions concerning the management of the “Dieselgate” emissions scandal; Reuters reported. Shares of the carmaker were flat on Friday.
Meantime, tech stocks and semiconductor companies will be in focus Friday. This comes on the back of news that Apple had apologized over the handling of its battery issue, adding that it would make a number of changes for customers “to recognize their loyalty” and try to regain the trust of anybody who could have doubted the intentions of the tech giant. Earlier on this month, Apple admitted to slowing older iPhones with flagging batteries.