BusinessAnalysis

All I want for fishmas is an underwater Santa

Planet Christmas: Stock market ‘Santa rallies’, supermarkets’ embrace of Italian festive traditions, and the impending gloom of 2023

Image of the week: Wet Christmas

The world is divided into two groups: people who already knew that aquariums go wild for Christmas and people who have only just discovered that this is a whole genre of tourism – because, watch out Lapland, it very much is.

Here, South African diver Jerry Ntombela, dressed as Santa Claus, has a blue, blue Christmas as he hangs out with his friends at Africa’s largest marine park, the uShaka Marine World in Durban, which attracts more than 100,000 local and international visitors during the festive season.

But aquariums the planet over – including ones in Tokyo, Guadalajara, Seoul, Kuala Lumpur and Blackpool – love nothing more than inviting Santa and/or Mrs Claus to leave the winter wonderland behind for a change and plunge into a winter wondersea.

Then it’s just a matter of swimming home for Christmas.

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In numbers: Santa rallies

50

Years since Yale Hirsch, creator of the Stock Trader’s Almanac, first documented a pattern of stock market climbs during the last five trading days of the year and the first two trading days of the new year, known as a “Santa Claus rally”.

1.3%

Average rise in the S&P 500 index during the Santa rally period since 1950, with explanations including the pursuit of tax efficiency, the greater influence of bullish retail investors at this time, festive optimism and old-fashioned belief: one argument is that a Santa rally is a self-fulfilling prophecy.

12%

Europe’s Stoxx 600 index had dropped more than this much in 2022 as the Santa rally period approached, with the spectre of further interest rate hikes leaving some market-watchers questioning whether Santa will be in the mood for a rally this year.

Getting to know: 2023

Ah, 2023. Look, it’s best not to think about it right now – just carry on searching for sage for your stuffing while pondering why it is that everybody else in Ireland also decided to go to the supermarket at 8am on Christmas Eve.

But if you must contemplate the bleakness of January, consider these time bombs: winter energy bill shocks, a forecasted Irish inflation rate of 7 per cent for next year, a likely climb in the key European Central Bank lending interest rate to 3 per cent, further housing supply constraints after a year of double-digit rent increases and predictions that average temperatures will be even higher than the bake-fest endured in 2022.

All this, plus the litany of ongoing war miseries, dictator brutalities and myriad human rights abuses happening around the world. On second thoughts, forget Christmas – just crawl under the duvet now and don’t get out until 2024.

The list: Buon Natale

On the basis that traditions have to start sometime, food and drink companies do their level best while we’re deep in peak marshmallow season to launch new products and “twists” on old ones, then pretend these newcomers were festive traditions all along. So what have we got?

1. Baileys Tiramisu flavour: Leaning into the idea that Baileys is a dessert and not a drink, Diageo has brought forth an Italian-themed limited edition.

2. Porchetta: According to Australian site Good Food, porchetta – the Italian style of rolling pork loin – is “emerging as this year’s essential Christmas dish” because it offers “exceptional value”.

3. Cantucci: The almond biscuits, which also appear in cantuccini form, are easily augmented with festive flavours such as cinnamon, ginger and nutmeg. They originate from Tuscany.

4. Pandoro: Yes, a theme has definitely emerged here. Pandoro is a light, almost bread-like Italian Christmas cake that hails from Verona and is star-shaped for your delectation.

5. Absolutely any kind of panettone: It turns out Big Panettone was only warming up last year. This Christmas, fancily packaged supermarket versions of the Milanese festive sweet bread classic have proliferated. Acceptable – indeed, desirable – for breakfast.