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European shares were largely unchanged on Thursday, with investors taking a breather after three straight sessions of gains driven by growing expectations of a U.S. Federal Reserve rate cut next month.
The pan-European STOXX 600 traded flat at 574.01 points by 09:26 GMT, holding near one-week highs.
Mixed Performances Across Major Markets
Regional indices showed a mixed picture:
- FTSE 100 slipped 0.2%, following the U.K.’s Autumn Budget announcement on Wednesday
- Germany’s DAX edged 0.3% higher
- Other major bourses moved in tight ranges as risk appetite cooled
Puma Jumps on Takeover Interest
Puma surged 14.6% after a Bloomberg report said Anta Sports Products—the Chinese sportswear giant—is among the companies exploring a potential takeover bid for the German athletic brand.
Investors Pause After Fed-Inspired Rally
Thursday’s pause follows a three-day rally fueled by dovish commentary from several Fed officials and U.S. economic data pointing to softening growth—both reinforcing expectations of a December rate cut.
Progress toward a Russia-Ukraine peace agreement has also supported sentiment this week.
Sector Movers
- Healthcare stocks were the biggest drag, falling 0.4%, pressured by declines in sector giants Novo Nordisk and Roche
- Financial services led gains, rising 0.7%
- Deutsche Börse climbed 3.6% after J.P. Morgan upgraded the stock to overweight
- Food & beverage stocks added 0.3%, with Davide Campari and Pernod Ricard up 1.6%
- Remy Cointreau rallied 4.3% after its new CEO expressed confidence in returning to growth in the second half of the fiscal year
Despite recent gains, the STOXX 600 remains about 2% below its all-time high set earlier this month, struggling to recover losses from the global sell-off driven by concerns over stretched tech valuations.
Other Movers
- Unite Group plunged 4.6% to a 10-year low after warning of lower earnings in 2026
Market Note
U.S. markets are closed Thursday for the Thanksgiving holiday.
