LONDON — European markets edged lower on Thursday as investors digested the regional and global economic outlook.
pan-european Stocks 600 Major exchanges and sectors were mixed and fell below the flatline by noon London time (7 a.m. ET).
Following yesterday’s strong trading, a subdued opening in local markets on Thursday saw the Stoxx 600 end almost 1.1% higher, with most sectors and major local stock exchanges closing in the green.
Rising expectations that the US Federal Reserve will cut interest rates at its next meeting on December 9-10 have boosted global markets this week.
Traders are pricing in an 84.9% chance that the Fed will cut interest rates by a quarter of a percentage point in December, according to the CME FedWatch tool.
A German sports brand that attracts potential buyers based on its individual name. pumaas reported by Bloomberg. Chinese sports multinational Anta Sports is also among the companies working on a bid, the newspaper reported, citing unnamed sources. Puma declined to comment when contacted by CNBC. Puma shares rose as much as 16% on Thursday, leading European indexes. Last time, it was up 14.8%.
Other big moves include defense stocks. line metalwas up 1.4%, and serve was up about 1.4%, each higher than before. This comes as US officials continue to try to broker a peace agreement between Russia and Ukraine.
Novo Nordisk shares fell 1.3%, reversing earlier gains. On Wednesday, the U.S. Centers for Medicare and Medicaid Services announced new negotiated prices for the best-selling drugs Ozempic and Wegovy starting in 2027. The new price for Medicare patients will be $274, a 71% discount from the current list price.
British gold yields rose as investors reacted to the country’s autumn budget on Wednesday. of Benchmark Gold 10 Years It rose by 5 basis points.
U.S. stocks rose on Wednesday, with major averages posting their fourth straight day of gains ahead of the Thanksgiving holiday. Meanwhile, Asia-Pacific markets followed Wall Street’s gains, with India’s benchmark index hitting a record high overnight.
U.S. markets are closed on Thursday for Thanksgiving. Trading will resume on Friday in a shortened session, with the market closing at 1pm ET.
There was no major earnings report in Europe on Thursday. Data releases include Germany’s GfK consumer confidence survey and EU economic sentiment data.
