(Bloomberg) -- European equities ticked higher in thin post-Christmas trading to hold near their highest level since January 2022.

The Stoxx 600 Index closed 0.2% higher on Wednesday, the first day of trading in the region after the Christmas break. Real estate and technology stocks led the advance, while amongst individual movers, AstraZeneca Plc rose after it agreed to acquire Chinese cell therapy developer Gracell Biotechnologies Inc.

German chemical giant Bayer AG gained after it won a trial in a US lawsuit related to its Roundup herbicide, while mining giant Anglo American Plc was lifted by a report it planned to sell a stake in Britain’s $9 billion Woodsmith fertilizer mine. 

Trading volumes were light, with only three trading days left this year. Stocks in the region have rallied hard in the last two months, putting the main benchmark on track to end 2023 more than 12% higher. 

A pullback may now be approaching, with almost two-thirds of European investors in a BofA poll last week saying they expect stocks to fall in the near-term after sharp rally since late October.

For more on equity markets:

• ADVISORY: Taking Stock Europe Will Resume on Jan. 3
• ADVISORY: M&A Watch Europe Will Resume on Jan. 2
• US Stock Futures Little Changed; Coherus Bio, AMD Gain

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