Investing.com — European stocks traded in mixed fashion on Friday as investors digested the latest inflation figures for the eurozone.
At 9:35 ET (14:35 GMT) Germany’s DAX index rose 0.4%, France’s CAC 40 declined 0.1%, and the UK’s FTSE 100 dropped 0.2%.
Additionally, France’s risk premium equaled Greece’s for the first time, underscoring investor concerns over ongoing turmoil.
Eurozone inflation exceeds ECB target
Flash estimates from Eurostat revealed that eurozone inflation climbed from 2% in October to 2.3% in November, surpassing the European Central Bank's 2% target. This figure aligned with market expectations, as economists surveyed by Reuters had expected the same.
The inflation data supports a cautious approach by the ECB, which is widely expected to implement a 25-basis-point rate cut during its upcoming meeting on Dec. 12.
Anglo American (JO:AGLJ) shares jump
Shares of British mining giant Anglo American jumped roughly 3% on Friday following an upgrade from Jefferies, which revised its rating to "buy" from "hold."
Aviva (LON:AV) eyes Direct Line (LON:DLGD) in potential takeover move
British insurer Aviva has reportedly approached shareholders of its smaller rival, Direct Line, in a move that could signal intentions for a hostile takeover.
As reported by The Financial Times, the approach follows Direct Line’s rejection of Aviva’s initial cash-and-share offer, which the smaller insurer dismissed as “highly opportunistic” and undervaluing the company.
Aviva’s bid, submitted on November 19, reflects a growing trend of consolidation in the insurance sector. Direct Line’s rejection has set the stage for a potential standoff between the two firms, with shareholders now caught in the middle of a high-stakes negotiation.
Crude oil prices recover amid OPEC+ speculation
Oil prices reversed its losses and is trading higherl on Friday, as investors monitored developments regarding OPEC+’s production strategy following a four-day postponement of a critical virtual meeting.
By 9:35 ET, Brent crude edged 0.5% higher to $73.10 per barrel, while U.S. crude (WTI) was up 1.2% to $69.50 per barrel.
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