LONDON — European stocks closed higher on Thursday as investors digested the regional and global economic outlook.

The pan-European Stoxx 600
reversed course to finish 0.12% higher by the end of Thursday’s session, with major bourses and sectors mostly higher following broadly negative moves earlier in the day.
It comes after a positive trading session yesterday, with the Stoxx 600 closing almost 1.1% higher and most sectors and major regional bourses in the green.

Global markets have been boosted this week by rising expectations that the U.S. Federal Reserve will cut interest rates when it next meets on Dec. 9-10.

Traders are pricing in a 84.9% chance of a quarter percentage point cut from the Fed in December, according to the CME FedWatch tool.

On individual names, potential buyers are swirling German athletic brand Puma
, according to reports by Bloomberg. Chinese sport multinational Anta Sports is among those working on a bid, the outlet reported, citing unnamed sources. Puma declined to comment when asked by CNBC. Puma shares ended the day up 18.9%, leading the European index.

Other big movers include defense stocks Rheinmetall
, which advanced 1.24%, and Saab
, which finished 2.5% higher, each paring earlier gains. It comes as U.S. officials continue to attempt to broker a peace deal between Russia and Ukraine.

Novo Nordisk shares dipped 1.5%, reversing gains made in the previous session. On Wednesday the U.S. Centers for Medicare and Medicaid Services announced the newly negotiated price for its bestseller drugs Ozempic and Wegovy from 2027. The new price for patients on Medicare will be $274, a 71% discount from its current list price.

Yields on U.K. government bonds moved higher as investors assess the impact of the country’s highly anticipated Autumn Budget. The yield on the benchmark 10-year gilt
rose by more than 2 basis points, climbing down from highs seen earlier in the trading day.

U.S. stocks rose on Wednesday, allowing the major averages to log their fourth straight day of gains ahead of the Thanksgiving holiday. Meanwhile, Asia-Pacific markets tracked Wall Street gains and India’s benchmark indexes hit a record high overnight.

U.S. markets are closed Thursday for Thanksgiving. Trading will resume with a shortened session Friday, when the market will close at 1 p.m. ET.

LONDON — European stocks closed higher on Thursday as investors digested the regional and global economic outlook.

The pan-European Stoxx 600
reversed course to finish 0.12% higher by the end of Thursday’s session, with major bourses and sectors mostly higher following broadly negative moves earlier in the day.
It comes after a positive trading session yesterday, with the Stoxx 600 closing almost 1.1% higher and most sectors and major regional bourses in the green.

Global markets have been boosted this week by rising expectations that the U.S. Federal Reserve will cut interest rates when it next meets on Dec. 9-10.

Traders are pricing in a 84.9% chance of a quarter percentage point cut from the Fed in December, according to the CME FedWatch tool.

On individual names, potential buyers are swirling German athletic brand Puma
, according to reports by Bloomberg. Chinese sport multinational Anta Sports is among those working on a bid, the outlet reported, citing unnamed sources. Puma declined to comment when asked by CNBC. Puma shares ended the day up 18.9%, leading the European index.

Other big movers include defense stocks Rheinmetall
, which advanced 1.24%, and Saab
, which finished 2.5% higher, each paring earlier gains. It comes as U.S. officials continue to attempt to broker a peace deal between Russia and Ukraine.

Novo Nordisk shares dipped 1.5%, reversing gains made in the previous session. On Wednesday the U.S. Centers for Medicare and Medicaid Services announced the newly negotiated price for its bestseller drugs Ozempic and Wegovy from 2027. The new price for patients on Medicare will be $274, a 71% discount from its current list price.

Yields on U.K. government bonds moved higher as investors assess the impact of the country’s highly anticipated Autumn Budget. The yield on the benchmark 10-year gilt
rose by more than 2 basis points, climbing down from highs seen earlier in the trading day.

U.S. stocks rose on Wednesday, allowing the major averages to log their fourth straight day of gains ahead of the Thanksgiving holiday. Meanwhile, Asia-Pacific markets tracked Wall Street gains and India’s benchmark indexes hit a record high overnight.

U.S. markets are closed Thursday for Thanksgiving. Trading will resume with a shortened session Friday, when the market will close at 1 p.m. ET.