European markets rebound as Direct Line rejects Aviva bid
- European markets rebounded on November 29, 2024, with the Stoxx 600 index up by 0.45%.
- Germany's inflation rate remained stable while Spain's inflation increased from 1.8% to 2.4%.
- The day ended on a positive note, with investors showing optimism about potential economic recovery.
On Thursday, November 29, 2024, European markets showed signs of recovery after a sluggish trading session the previous day. The pan-European Stoxx 600 index closed up 0.45%, regaining some ground. In Germany, inflation figures remained unchanged at 2.4% for November, which contrasted with expectations of an increase. Meanwhile, Spain experienced a rise in its inflation rate, moving from 1.8% to 2.4%. S&P Global Ratings projected that economic growth in the eurozone would improve from 0.8% in 2024 to 1.2% in 2025, indicating a potential rebound in the economy, particularly in Germany. Furthermore, there were significant market reactions with stocks such as Grifols falling by 10.7% after a failed acquisition bid and Airbus gaining 4%. It’s important to note that the European economic sentiment showed slight improvement, despite concerns regarding U.S. trade policies and political instability in France and the U.K. Investors were also considering the interest rate plans of major central banks. Overall, the day’s trading was marked by recovery, and investors were cautiously optimistic about the outlook for the eurozone economy.