European Stocks Close Higher Again

(RTTNews) - The major European markets closed higher on Thursday amid optimism about an interest rate cut by the Federal Reserve in December. Hopes of a potential Russia - Ukraine peace deal also aided sentiment.

CME Group's FedWatch Tool indicates the chances the Fed will lower rates by another quarter point next month have soared to 82.9% from just 30.1% a week ago.

However, gains were just marginal in most of the markets in the region as investors, digesting the latest batch of regional and U.S. economic data, stayed a bit cautious after recent sharp gains.

The pan European Stoxx 600 gained 0.14%. The U.K.'s FTSE 100 edged up 0.02%, France's CAC 40 crept up 0.04%, and Germany's DAX climbed 0.18%. Switzerland's SMI ended 0.07% up.

Among other markets in Europe, Finland, Iceland, Ireland, Norway, Sweden and Turkiye closed on firm note. Austria, Belgium and Denmark eded up marginally.

Greece, Netherlands, Poland and Russia closed weak. Czech Republic and Portugal ended slightly down, while Spain closed flat.

In the UK market, Persimmon climbed 3.1%. Lloyds Banking Group gained about 3% and Centrica closed up by about 2.85%.

Natwest Group, Marks & Spencer, Glencore, St. James's Place, Barclays, Berkeley Group Holdings, Segro, Diageo, Barratt Redrow and Schroders also posted notable gains.

Imperial Brands, Burberry Group, Rio Tinto, 3i Group, LondonMetric Property, Antofagasta, BP, Scottish Mortgage and Halma ended lower by 1 to 2.4%.

In the German market, Deutsche Boerse gained about 1.8%, buoyed by a rating upgrade by JPMorgan to "Overweight" from "Neutral." The price target has been raised to Euro 292.

Infineon, Siemens Energy, Brenntag, Continental, Mercedes-Benz and Siemens Healthineers closed up by 1 to 2.3%.

Puma soared 19% amid speculation China's Anta Sports is looking to acquire the company. Bloomberg has cited Li Ning and Asics as other possible suitors for Puma.

Commerzbank, RWE, E.ON, Qiagen and Daimler Truck Holding lost 0.8 to 1.4%.

In the French market, Pernod Ricard climbed more than 2%. BNP Paribas, TP, Renault, Accor, Stellantis, Unibail Rodamco, Michelin, Edenred and Capgemini gained 0.7 to 1.5%.

Hermes International ended down by 1.7%. ArcelorMittal, Kering, Veolia Environment and Engie closed moderately lower.

Monthly survey data published jointly by NIQ/GfK and the Nuremberg Institute for Market Decisions showed German consumer confidence is set to improve in December as households showed willingness to buy and save but their economic and income expectations deteriorated.

The forward-looking consumer sentiment index improved to -23.2 from -24.1 in the previous month. The indicator was forecast to rise moderately to -23.6.

A report from the European Commission showed the Eurozone Economic Sentiment Indicator inched up to 97.0 in November from 96.8 in October, matching market expectations and marking its highest reading since April 2023.