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Economic sentiment in both the European Union and the eurozone rose slightly in November, according to a survey published by the European Commission, despite weak employment expectations.

The European Commission said that increased confidence in industry and retail trade was largely offset by decreased confidence in services and among consumers. Among the major economies, France, Spain and the Netherlands recorded the strongest improvements in sentiment, while Germany showed a notable decline.

Carsten Brzeski, global head of macroeconomics at ING, said a mix of economic data on Thursday “comforts hawks” at the European Central Bank, referring to policymakers who favor a cautious approach to interest rate cuts.

“There is no strong momentum for growth, resulting from monetary developments, but the continued increase in housing loans and long-term corporate loans should at least gradually support the economy,” Brzeski said, noting that ECB Governing Council members such as Isabel Schnabel were and investors felt Concerned that US President-elect Donald Trump's policies could fuel inflation in the eurozone.

“Today's (economic sentiment index) should be taken with a pinch of salt, as this would not be the first time that sentiment indicators have reacted to a delay in political events, such as the US elections. However, on the face of it, it will provide comfort to investors,” Brzeski said. ECB hawks will oppose a 50 basis point interest rate cut at the December meeting.

-Jenny Reed

The euro and pound fell by about 0.2% against the US dollar in mid-morning trading, posting strong gains against the dollar in the previous session.

Investors continue to evaluate the impact of US President-elect Donald Trump's upcoming increase in trade tariffs, French political volatility and shaking UK business and consumer sentiment, along with the interest rate paths of the Federal Reserve, the European Central Bank and the Bank of England.

“In recent sessions, (the euro) has regained some ground against (the US dollar). Overexpansionary attitudes, the end of the month, and speculation that the market may have factored in too much of the US inflation risks stemming from Trump's policies have pulled the euro down ( …) “Dollar advances,” Rabobank analysts said in a note Thursday morning.

Spain's inflation rate reached 2.4% in November, in line with expectations of economists polled by Reuters and up from 1.8% the previous month.

This comes after the country's annual inflation reached a three-year low of 1.5% in September.

German inflation data is due later Thursday ahead of Eurozone data on Friday. Economists expect prices in the 20-nation bloc to rise from 2% to 2.3% in November.

Markets priced in a 25 basis point interest rate cut from the European Central Bank at its meeting on December 12, the fourth cut of the year. Expectations for a deeper 50 basis point cut have faded despite persistent concerns about weak growth in the euro zone.

-Jenny Reed

British insurance company shares Direct line Its stock jumped 39% in early deals, hitting its highest level since March, after it received a takeover offer from a competing company. Aviva The company is “significantly undervalued.”

Aviva announced on Wednesday that it had made a full takeover bid for the company on November 19, offering Direct Line shareholders 112.5p per Direct Line share in cash – a 59.7% premium to its closing price on November 18 – and 0.282 new Aviva shares for each share. . Share direct line.

Direct Line confirmed the unsolicited offer and said its board had concluded that it was “highly opportunistic and significantly undervalues ​​the company”.

“The Board of Directors has great confidence in the capabilities of our newly created leadership team and strongly supports the execution of our strategy. Under this strategy, the Company continues to make early progress toward our financial goals, and expects to achieve attractive growth in profitability, capital generation and shareholder returns.”

She added that there is no guarantee that a firm offer will be made and on what terms. Aviva must confirm whether or not it intends to make a firm offer by 5pm on 25 December.

Aviva shares were down 3.39% at 8:47 a.m. London time.

-Jenny Reed

European stocks rose at the open on Thursday Stokes 600 The index rose by 0.49% at 8:23 am London time. Technology stocks led the gains, rising 1.57%.

Germany Dax And France CAC 40 Both were about 0.5% higher, while the UK was FTSE 100 index increased by 0.2%

-Jenny Reed

UK consumer confidence remains weak following the Labor government's first Budget in October, according to a November survey by the British Retail Consortium.

A BRC-Opinium poll showed that opinions about the state of the economy have worsened slightly, while people's assessment of their money has improved slightly. Personal spending remained flat in October.

Helen Dickinson, chief executive of the BRC, said: “There has been little shift in consumer confidence since the Chancellor's Budget, with many concerned about the economy in the run-up to Christmas.

“It is clear that the past month has done little to change demand for households either positively or negatively, however, the same cannot be said for the retail industry. With more than £7 billion in additional costs in 2025 as a result of the Budget, it will not “Retailers have little choice whether to raise prices or reduce investment in jobs and shops.”

The sweeping reforms announced by Labor have sparked a largely negative reaction from the UK business community, who claim that higher taxes and upcoming changes to employment rights have put pressure on employers.

-Jenny Reid

French spirits group Remy Cointreau The company reported a 12.9% decline in first-half operating profit to €147.3 million ($155.3 million), a smaller decline than expected in the company's analyst poll.

Analysts had expected a 20.6% decline in operating profits.

CEO Eric Vallat said the company maintained steady margins in the first half through “rigorous cost management,” as it implements a €50 million savings strategy for the full year. The beverage maker is facing weak demand in the United States and the Asia-Pacific region, as well as other brandy producers, and higher tariffs on Chinese exports amid a trade dispute between the European Union and China.

Consolidated sales declined 15.9% on an organic basis during the period.

The company expects growth in the Americas will not return until the fourth quarter at the earliest, and sales will deteriorate in the Asia-Pacific region, “in light of the continued lack of visibility into the timing of the recovery in the United States and deteriorating market conditions.” In China.”

It forecast an overall organic sales decline of between 15% and 18% for the full year, updating a “double-dip” forecast issued in October.

European markets are expected to open higher on Thursday.

UK FTSE 100 index The index is expected to open 16 points higher at 8,291 points in Germany Dax It rose 72 points to 19,334 points for France Kak Up 30 points at 7173 and Italy FTSE MIB indicator It rose 98 points to 33,310, according to IG data.

There are no headline earnings on Thursday, but data released includes Spanish and German inflation and European economic confidence numbers. Italian and Spanish business confidence data are also scheduled to be released.

– Holly Eliatt

Bitcoin rose again on Wednesday to above $96,000, rebounding slightly from this week's pullback that knocked it from record highs.

The price of the major cryptocurrency was recently up nearly 6% at $96,676.70, according to Coin Metrics, while ethereum jumped more than 9% to $3,636.46. The broader cryptocurrency market, as measured by the CoinDesk 20 Index, rose 7%.

Although Bitcoin is widely viewed as a store of value and a digital alternative to gold, the cryptocurrency is often traded alongside the stock market. However, on Wednesday it broke away from the tech-heavy Nasdaq Composite, which fell 0.6%. The Dow Jones Industrial Average and S&P 500 also fell.

Coinbase rose more than 6% as Bitcoin lifted it along with other cryptocurrency stocks.

– Tanya Machel

President-elect Donald Trump's proposed tough tariffs on imports could create winners in the stock market — especially among companies that help companies manage their supply chains, according to Redburn Atlantic.

The Redburn analyst said these technology stocks outperformed during “periods of supply chain uncertainty,” pointing to the 2018-2019 trade tensions between the US and China.

CNBC Pro subscribers can read more here.

-Ganesh Rao

Percentage of all shares in Standard & Poor's 500 Above the 200-day moving averages is currently 77%, and has remained above at least 60% over the past year. This proves that the market's fundamentals “remain strong,” according to Chris Ferrone, head of technical and macro research at Strategas.

Strong moving averages, which smooth out short-term volatility to show the underlying trend in a stock price, “speak to the continued presence of good internals,” Ferrone wrote to clients on Wednesday.

“It's not historically uncommon for the first part of December to be a shoulder period for stocks, but the market is still in the middle of its best 3-month period on the calendar,” he said, referring to the period from October 13 to October 11. 31 until 31 January.

-Scott Schnepper

Attractive returns and a wide range of opportunities are among the reasons why the US market has historically been a leader among investors.

However, one market watcher sees US stocks as too expensive and is now looking for opportunities in other, cheaper markets.

“We believe markets outside the US are significantly more attractive than the US from a valuation perspective,” Morningstar CEO Kunal Kapoor said, revealing markets with “attractive pockets” of opportunity.

CNBC Pro subscribers can read more here.

– Amala Balakrishner