(Reuters) -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 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 fell 0.2% a day after the autumn budget was announced. Germany’s DAX was flat.
Puma surged 13% after a Bloomberg News report said Chinese sportswear maker Anta Sports Products 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.
Minutes from the European Central Bank’s previous meeting will also be in focus on the day.
(Reporting by Anastasiia Kozlova; Editing by Mrigank Dhaniwala)
