European markets closed higher on Thursday, capping off a robust month with the Stoxx 600 reaching a 10-week high, marking its best performance since January. The index gained 5.87% in November, rebounding sharply from three consecutive monthly losses.
Key European market figures for November include:
– FTSE 100: 0.36% increase
– DAX: 0.36% increase
– CAC 40 Index: 0.63% increase
– FTSE MIB: 0.17% increase
– IBEX 35 Idx: -0.04% decrease
Investor sentiment has been bolstered by expectations of interest rate cuts in the coming year, driven by a fall in inflation. Euro zone inflation in November came in at 2.4%, lower than the expected 2.7%, contributing to the positive market outlook.
Oil and gas stocks rose by 1%, awaiting announcements from the OPEC meeting on potential production cuts.
Overall, European markets remain optimistic as they opened higher on the last day of November, with sectors showing a mixed performance. The Stoxx 600 index, up by around 0.14% at 8:15 a.m. London time, is just below a 6% increase for the month. The European Central Bank’s meeting in mid-December is eagerly awaited for potential insights into future economic policies.
