Rolling coverage of the latest economic and financial news, on a shortened Christmas Eve trading session in London
- UK car industry hails plan for Prius-style hybrids to stay on sale after 2030
Jonathan Webster-Smith, chief investment officer at Bowmore Asset Management, makes an important point about the Santa rally concept:
“Every year investors hope for a Santa rally – but they should be careful about trading on the back of it.”
“The years in which this occurs are a bit too random”.
The FTSE 100 has risen in three of the past five years (2019-2023, inclusive) for the ten-day period leading up to New Year
Since its creation in 1896, the Dow Jones index has historically risen in 77% of years for the period between December 26 and January 2 – averaging +1.5%
The ‘Santa rally’ rise has occurred in 75% of the years since 1950 for the Dow Jones, according to one study
US stock market has averaged +1.3% over the last 70 years for the period between December 24 and December 31 according to another study
These gains significantly outperform the average six day return throughout the rest of the year – averaging just +0.2%
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