European shares were muted on Thursday, after three consecutive sessions of gains on rising hopes of a Federal Reserve interest rate cut next month, while Puma shares surged after a report of takeover interest. The pan-European STOXX 600 (.STOXX), opens new tab was down 0.2% at 572.97 points by 0806 GMT. The index is trading around one-week highs.
Major regional bourses were flat to lower. London's FTSE 100 (.FTSE), opens new tab fell 0.2% a day after the autumn budget was announced. Germany's DAX (.GDAXI), opens new tab was flat.
Puma (PUMG.DE), opens new tab surged 13% after a Bloomberg News report said Chinese sportswear maker Anta Sports Products (2020.HK), opens new tab is among the firms exploring a potential takeover of the German sportswear retailer.
European markets took a breather on Thursday, after rallying in the last three sessions, as investors drew comfort from some Fed officials advocating for a rate cut next month, supported by economic data pointing to weakness in the economy.
Progress on a Russia-Ukraine peace deal also contributed to the upbeat sentiment so far this week. Markets in the U.S. are closed for the Thanksgiving holiday, and will trade for a shorter session on Friday.
